On a quiet September morning, the Ethereum Foundation moved swiftly, like a phantom in the digital night. A subtle shift in the blockchain ecosystem went unnoticed by most, but for those attuned to the flow of transactions, it was a significant moment. From their main address—0xbc9a9ac7dc36b1706732374bf632ef39fb6efbc3—the foundation transferred another 100 ETH. The receiving address—0xd779332c5a52566dada11a075a735b18daa6c1f4—had become familiar to the observers of these moves.
This was no ordinary exchange; they were exchanging their ether for 262,474 DAI, opting once again for stability over volatility. The method of choice? CoWSwap, a trusted decentralized platform.
It wasn’t the first time they had made such a trade this year. In fact, this marked just a small part of a larger strategy. So far in 2024, the Ethereum Foundation had sold a total of 3,766 ETH, gathering over 10.46 million DAI in return. Each sale was calculated—an average price of $2,777 per ETH—and a clear signal of their confidence in stablecoins amidst market fluctuations.
Most strikingly, the foundation had been particularly active in September. With 1,250 ETH, worth approximately $3.06 million, sold in the past weeks alone, rumors swirled through the Web3 community. What were they planning? Why such precision in timing?
For now, the foundation remained silent, its moves visible only to those who watched the blockchain with keen eyes. The markets continued to churn, but the Ethereum Foundation, as ever, played its long game, shaping the future of decentralized finance with every carefully placed trade.
