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<ul class="wp-block-list news-points">
 <li>Ethereum Foundation has transferred 1,000 ETH to a multi-sig wallet.&nbsp;</li>
 <li>The firm made a similar move yesterday, transferring 1,000 ETH to another wallet.</li>
 <li>ETH is trading in the $2,300 price level and aims for higher prices.</li>
</ul>
The Ethereum Foundation, the organization behind the Ethereum blockchain, moved a substantial 1,000 ETH to a multi-signature wallet “0xbC9a” on September 6th, attracting attention from the crypto community.
<h2 class="wp-block-heading" id="h-potential-dai-conversion-and-price-impact">Potential DAI Conversion and Price Impact</h2>
According to a <a href="https://x.com/lookonchain/status/1831936071774650557" target="_blank" rel="noopener noreferrer nofollow">post</a> on social media platform X (formerly Twitter) by Lookonchain, the Ethereum Foundation plans to convert these tokens to DAI, a stablecoin pegged to the US dollar. The sale is expected to affect the price of ETH. The transaction fee for the transfer was just $0.43.
<a href="https://coinedition.com/buterin-denies-eth-dumping-as-foundation-cashes-out-240k/" rel="noopener noreferrer nofollow">Read also: Buterin Denies ETH Dumping as Foundation Cashes Out $240K</a>
As <a href="https://coinedition.com/buterin-denies-eth-dumping-as-foundation-cashes-out-240k/" rel="noopener noreferrer nofollow">reported</a> earlier, a similar transaction had surfaced where the Ethereum Foundation sold 1,000 ETH and the community speculated on the Ethereum creator Vitalik Buterin to be selling his holdings.&nbsp; However, Buterin has clarified that he has no involvement in the sale of ETH.
<h2 class="wp-block-heading" id="h-ether-price-struggles">Ether Price Struggles</h2>
The price of Ether has remained sluggish…
The post <a href="https://coinedition.com/another-1000-eth-on-the-move-foundations-dai-conversion-strategy/" rel="noopener noreferrer nofollow">Another 1,000 ETH on the Move: Foundation’s DAI Conversion Strategy?</a> appeared first on <a href="https://coinedition.com" rel="noopener noreferrer nofollow">Coin Edition</a>.

Another 1,000 ETH on the Move: Foundation’s DAI Conversion Strategy?

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