PANews reported on July 11 that according to monitoring by on-chain analyst Ember, the ETH transferred by the Ethereum Foundation during this period is suspected to be intended for sale: they sold 1,210 ETH two hours ago in exchange for 3.496 million USDC, with a selling price of US$2,889.5.

In the past month, the Ethereum Foundation transferred 21,000 ETH to the 0xc06 address; 6 days ago, the 0xc06 address transferred 7,000 ETH to the 0x247 address; 2 hours ago today, the 0x247 address transferred 1,210 ETH to the 0x340 address, and then sold them for 3.496 million USDC and transferred them back to the 0x247 address.