The Ethereum Foundation has conducted a significant transaction involving the sale of 1,210 ETH for 3,496,000 USDC. Blockchain monitoring firm Ember tracked the exchange, which occurred two hours prior to reporting.
The transaction settled at an average price of $2,889.50 per ETH, totaling approximately $3.5 million in stablecoin value. Market observers note such substantial transfers by foundational entities could influence Ethereum’s price stability and broader cryptocurrency valuations.
While the Foundation regularly engages in treasury management operations, transfers of this scale prompt close market scrutiny due to their potential secondary effects on trading patterns and digital asset liquidity across exchanges.