Ethereum Foundation sells $6.4 million in ETH as price tests $2,300 support

The Ethereum Foundation has sold 2,785 ETH, amounting to roughly $6.42 million in USDS, according to data tracked by Onchain Lens. The transaction was executed via decentralized trading platform CoW Swap and drew attention as Ethereum’s price approached the $2,300 support level. Onchain Lens identified the wallet address associated with the sale as 0x5CBC6299faB3320E7758ac97fd4CA45E5B722059. Instead of a routine asset transfer, the Foundation exchanged its ETH directly for USDS—a stablecoin pegged to the US dollar. The Ethereum Foundation is the non-profit organization responsible for overseeing the technical development and administration of the Ethereum network.