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Ethereum Foundation Makes Major Move by Depositing 49,200 ETH into DeFi Platforms
In a recent and surprising move, the Ethereum Foundation (EF) has transferred a massive amount of Ether (ETH) to various decentralized finance (DeFi) platforms. The EF has deposited a total of 49,200 ETH across several prominent DeFi protocols.
According to blockchain data, the foundation has split its deposits across multiple platforms. A significant portion of the transfer, totaling 4,200 ETH, was sent to Compound, followed by 10,000 ETH being routed to Aave. In an unexpected move, a staggering 30,800 ETH was deposited into Spark. Additionally, another 4,200 ETH was later added to Compound.
This substantial investment has raised eyebrows in the crypto community, as it is perceived as a strategic shift for the EF. By leveraging DeFi protocols, the foundation can now earn passive income without selling its Ether reserves, thereby maintaining market liquidity.
As Ethereum’s price continues to fluctuate, this decision may prove crucial in sustaining funding. The move also addresses concerns voiced by the community regarding the potential impact of direct ETH sales on the market.
The EF’s decision highlights a critical turning point for decentralized finance, as it emphasizes the increasing importance of DeFi protocols in generating revenue and securing assets.
Source: coinpedia.org
