Ethereum (ETH) Price Takes Hit as Major Holder Allegedly Cashes Out

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Amid this turbulence, attention has been drawn to a suspected Ethereum Foundation address,"0xd7," which reportedly sold 100 ETH for 291,267 DAI via the Cow Protocol today. Foundation address,"0x9e." Notably, this suspected Ethereum Foundation address has been consistently exchanging ETH for DAI through the Cow Protocol in recent times.The Ethereum Foundation is a nonprofit organization dedicated to the advancement of Ethereum and related technologies.

Excluding exchanges and select projects, the foundation stands as one of the largest altcoin holders, with assets estimated to exceed $1 billion, encompassing holdings in WETH.E worth $91.87 million, along with 329,239 DAI — some of which arrived in foundation addresses today.holdings has sparked speculation regarding its potential impact on Ethereum's future trajectory.

Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master's program in banking and asset management. He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.

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