Ethereum Foundation's $1.6M ETH Sale Influences Market

The Ethereum Foundation recently sold $1.6 million in ETH, impacting the market. Using the CoW protocol, they converted 700 ETH to DAI stablecoins, transferring funds to the address "0x9ee...313D." A similar transaction on January 16 involved converting 100 ETH to $253,000. Despite these sales, the Foundation holds a substantial portfolio, including 312,894K ETH, 31.2K WETH, $1.96 million in DAI, $113.61 million in USDC, and $72.97 million in BUSD. The selling activity contributed to a 4.3% decline in Ethereum's price, currently at $2,386. $ETH

Ethereum's Dencun Upgrade Enhances Performance

Aligning with the Ethereum Foundation's funding adjustments, the Dencun upgrade launched on the Goerli testnet on January 17. A significant leap since the Shapella hard fork, it improves Layer 2 aggregation to address gas fees and enhance transaction speeds. Despite a four-hour delay due to a bug, a subsequent patch ensured smooth operations. The upgrade, crucial for advancing Ethereum, particularly in staked Ethereum (stETH) withdrawal, sets the stage for the next phase, including upgrades to the Sepolia and Holesky testnets. These developments underscore Ethereum's commitment to scalability, transaction efficiency, and overall network performance. #EthereumFoundation #ETH