Swap

DeFi

Solana

Ethereum

<p style="text-align: justify">The <a href="https://en.coin-turk.com/ethereum-price-hovers-near-1-683-resistance-what-could-the-next-move-reveal/" rel="noopener noreferrer nofollow">Ethereum</a> 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.</p>
<h2 id="foundation-s-transaction-and-current-eth-price-performance">Foundation’s transaction and current ETH price performance</h2>
<p style="text-align: justify">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.</p>
<p style="text-align: justify">As of the latest CoinGecko figures, Ethereum traded at $2,312.64, reflecting a 1.17% decline over 24 hours and a 4.58% drop in the past week. Daily trading volume totaled over $8.16 billion. Although the Foundation’s sale drew market attention, available data does not confirm a direct impact on price momentum.</p>
<blockquote>
 <p>Ethereum’s daily rebounds have become smaller, and the price is back near $2,300 after failing to hold $2,360. Whether buyers can recover ground from here depends on reclaiming previous support levels, with $2,360 marked as the next key test.</p>
</blockquote>
<p style="text-align: justify">Analyst Ella, sharing commentary on X, highlighted that Ethereum’s recent bounces are weakening. She emphasized the importance of $2,300 as a level where buyers need to respond to prevent further declines.</p>
<h2 id="key-chart-levels-and-analyst-views">Key chart levels and analyst views</h2>
<p style="text-align: justify">According to Ella’s analysis, if buyers manage to push ETH back above $2,360, the next price target becomes $2,400. If Ethereum falls below $2,300, she signaled that $2,250 would become the next area of technical interest. Her analysis points to these as conditional levels based on buyer activity, rather than predetermined outcomes.</p>
<blockquote>
 <p>ETH needs to reclaim $2,360 before a sustained recovery can be called. Otherwise, losing $2,300 may put $2,250 in focus if sellers continue dominating the trend.</p>
</blockquote>
<p style="text-align: justify">The reason for the Ethereum Foundation’s decision to liquidate ETH holdings at this time has not been disclosed, and there is no information on intended use of the stablecoin proceeds.</p>
<h2 id="ethereum-s-defi-dominance-and-network-comparisons">Ethereum’s DeFi dominance and network comparisons</h2>
<p style="text-align: justify">Daan Crypto Trades, a market analyst posting on X, observed that Ethereum remains the undisputed leader in total value locked (TVL) across decentralized finance (DeFi) protocols. This leadership position remains strong despite recent price fluctuations and is supported by major DeFi projects choosing Ethereum as their primary settlement network.</p>
<p style="text-align: justify">TVL provides a snapshot of the total value of digital assets deposited in DeFi platforms, offering a different perspective than price or trading activity metrics.</p>
<p style="text-align: justify">Daan noted that Base currently holds the second largest share of TVL at 6.9%. Meanwhile, <a href="https://en.coin-turk.com/solana-defi-platform-drift-urges-caution-after-detecting-unusual-activity/" rel="noopener noreferrer nofollow">Solana</a> has emerged as the leader in decentralized exchange (DEX) trading volumes, attributed to its high speed and relatively low transaction costs compared to Ethereum.</p>
<p style="text-align: justify;background: linear-gradient(135deg,#ffffff 0%,#fffdf9 100%);border:1px solid #f1e4d8;border-left:4px solid #F69434;padding:14px 16px;border-radius:12px;color:#1e293b;font-size:15px;line-height:1.7">Mini dictionary: CoW Swap is a decentralized exchange aggregator that enables users to trade assets directly from their wallets by finding the best available rates and providing protection against sandwich attacks in DeFi trading.</p>
<p style="text-align: justify">The analyst also remarked that DEX trading volume rankings can shift quickly between networks. Last month, Robinhood briefly captured 32% of activity at its peak, illustrating how rising interest in a single meme coin or token can alter market share dynamics.</p>
<table style="border:1px solid #f1e4d8;padding:8px">
 <thead>
  <tr>
   <th>Network</th>
   <th>TVL Share (%)</th>
   <th>DEX Trading Volume Leader</th>
  </tr>
 </thead>
 <tbody>
  <tr>
   <td>Ethereum</td>
   <td>Highest</td>
   <td>No</td>
  </tr>
  <tr>
   <td>Base</td>
   <td>6.9</td>
   <td>No</td>
  </tr>
  <tr>
   <td>Solana</td>
   <td>Lower</td>
   <td>Yes</td>
  </tr>
 </tbody>
</table>
<p style="text-align: justify">The Foundation’s ETH sale coincides with Ethereum trading just above a critical support level and the network maintaining its position as the leading platform for DeFi liquidity, though trading activity remains widely distributed among several chains.</p>
<p>The post <a href="https://en.coin-turk.com/ethereum-foundation-sells-6-4-million-in-eth-as-price-tests-2300-support/" rel="noopener noreferrer nofollow">Ethereum Foundation sells $6.4 million in ETH as price tests $2,300 support</a> appeared first on <a href="https://en.coin-turk.com" rel="noopener noreferrer nofollow">COINTURK NEWS</a>.</p>

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

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