Ether Price Dips Below $2K as Ethereum Foundation Dumps 5000 ETH in 5 Day

A wallet linked to the Ethereum Foundation sold another 1,000 ETH on Saturday, taking its five-day total to 5,000 ETH, or about $9.92 million, as ether sank as low as $1,900. The Ethereum Foundation is still holding strong in its pattern of offloading ETH, with onchain sleuths reporting earlier today that a foundation-linked wallet beginning 0x5CBC dumped another 1,000 ether, worth about $1.9 million. Over the past five days, the wallet has sold 5,000 ETH for roughly $9.92 million at an average price of $1,983.5. Analytics account Onchain Lens added more context on how the sales were carried out. The foundation swapped the 1,000 ETH for USDS, Sky’s dollar-pegged stablecoin, through Cowswap (a decentralized exchange aggregator).

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