According to Woofun AI, the Ethereum Foundation's associated wallet sold 2,785 ETH within 1 hour through the decentralized trading platform CoW Swap, with an average transaction price of 2,304 US dollars, with a total value of about 6.42 million US dollars. The proceeds were immediately converted to USDS, a stablecoin issued by Sky Protocol (formerly MakerDAO).

Woofun AI's on-chain data shows that the deal was not an isolated incident. Two weeks ago, two wallets linked to the Ethereum Foundation transferred 4,393 ETH to the Kraken exchange, which was worth about $11.13 million at the time, but only confirmed that the funds were deposited and did not confirm the sale. Since the transfer was discovered, the price of ETH has dropped 9%. At press time, the current price of ETH is $2,299, down 4.97% from last week and 2.56% from yesterday. The market disputes whether such operations constituted selling pressure, and it is impossible to determine the direct causal relationship between price declines and these transactions.

The Ethereum Foundation has yet to issue an official statement about the actual owner and use of the funds in the sale. In the absence of official clarification, it is difficult for market participants to determine whether these large ETH flows are regular operating expenses or strategic holdings. This asymmetry of information exacerbates the uncertainty of short-term price fluctuations.

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