It’s that time of year when you squint at your receipts and tax forms to better understand your financial habits. If that sounds daunting, you can rest assured that even those who run crypto projects are doing something along similar lines.
To that end, when the Ethereum Foundation released its annual report, many traders – ETH and others – took an interest in the parts dealing with the foundation’s treasury.
Here’s what you need to know.
Why you should give an “EF”
The Ethereum Foundation’s report stated that as of the end of March 2022, its treasury contained $1.6 billion, with $1.3 billion of it held in crypto while $300 million was held in non-crypto investments and assets.
About the asset allocation, the report further states,
“The vast majority (99.1%) of our crypto holdings are held in ETH. This ETH represents 0.297% of the total ETH supply as of March 31, 2022.”
About its non-crypto assets, the Ethereum Foundation explained this was to balance out “rising ETH prices” and market downturns.
Let’s be ETH together sometimes!
Well, Ether at the time of this press was trading at $3,046, up 4.41% from the last day. And, 1.01% in the last seven days.
Despite the price appreciation, what was stark was a nearly vertical fall in development activity that started on 18 April. This was in spite of average gas fees falling to 32.93 gwei on 17 April.
Naturally, you would expect investment sentiments to be down. Yet the opposite happened as data from Santiment showed that weighted sentiment was in positive territory.
This was a first for the month of April. The weighed sentiment was recorded at 0.601, despite widespread disappointment regarding the delay of the Merge and Ethereum’s TVL falling to $114.22 billion.
