NFT News Official TheBitTimes.com

The Ethereum Foundation has liquidated approximately 1,700 ETH worth $2.76 million into the stablecoin USDC, according to transaction data from analytics firms. The non-profit organization converted the Ethereum directly into USDC via the Uniswap decentralized exchange. The associated wallet now holds around $3.7 million in assets, including 240 ETH along with USDC , DAI, and ARB tokens. The foundation’s ETH reserves have declined from 395,000 ETH in Q1 2022, equal to 0.3% of total Ethereum supply. However, it still retains substantial holdings. JUST IN: Ethereum Foundation sold 1,700 ETH for $2.74 million $USDC. — Watcher.Guru (@WatcherGuru) October 9, 2023 Ethereum Foundation’s reasons for ETH sale are unclear While the reasons for the sale are unclear, the converted amount seems to align with funding the foundation’s ongoing operations, including research grants. In 2021, total expenses amounted to $48 million, including developer gr...

Popular NFT project y00ts has announced that it will migrate from the Polygon (MATIC) blockchain to Ethereum (ETH). The project had only moved to the Polygon ecosystem earlier this year from Solana (SOL). y00ts mentioned that it will also repay the $3 million grant that Polygon gave as part of the change. y00ts will join the DeGods library on Ethereum once the migration is complete. Both projects were created by Rohun Vora, aka Frank, in October 2021. In April, the company had already moved DeGods to Ethereum. Frank stated via a tweet that, “We tried our best to make it work, but we just need to bring our 2 communities tog ETH er.” 1. We tried our best to make it work but we just need to bring our 2 communities tog ETH er. I would appreciate it if everyone remains respectful of all parties involved. It’s all love. https://t.co/6AT4SMUT76 — Frank (@frankdegods) August 9, 2023 The project tweeted that they still love Polygon (...

Vitalik Buterin published a white paper in 2014 and Ether made its debut in the indices in 2015. ETH ballooned to become the world’s largest altcoin cryptocurrency only second to Bitcoin in market cap. During its launch, ETH was trading at $0.42 but quickly jumped to $0.74 before investors got wind of the asset. The relatively new crypto was affordable giving investors ample time and opportunity to accumulate it every month in 2015. However, things turned when it crossed the $2 mark in January 2016 and skyrocketed in price thereafter. Early entrants made millions with ETH by buying low and selling high. The late entrants brought the crypto at a premium price with less quantity as it went north sharply in the coming years. Also Read: VeChain: VET Price Prediction for the End of April 2023 Source: Coingecko Ethereum: A $1,000 In ETH Would Have Turned to $2.5 Million Today Source: newsbtc.com Considering that Ethereum was trading at $0.74 in 2015, a $1,000 investment w...