Ethereum Foundation sells $6.42 million in ETH

The Ethereum Foundation has sold 2,785 ETH, totaling approximately $6.42 million, for the USDS stablecoin. The transaction was executed through CoW Swap, a decentralized exchange aggregator, using a wallet address linked to the Foundation.

The sale occurred as Ethereum's price hovered near the $2,300 support level. According to market data, ETH recently experienced a 1.17% decline over 24 hours and a 4.58% decrease over seven days. While the transaction has been noted by on-chain monitors, there is no established evidence that the sale caused the broader market decline.