Ethereum Foundation Sells $6.42 Million in Ether Amid Widening Whale Liquidations

Ethereum faces renewed selling pressure and community scrutiny after the Ethereum Foundation sold 2,785 ETH for about $6.42 million in USDS via CoWSwap. The liquidation coincides with additional whale divestments, including an ICO participant selling 1,500 ETH worth $3.46 million and Arthur Hayes offloading 6,400 ETH, driving Ethereum's Fear and Greed Index down to 31. The transactions occurred as Ether tested the $2,300 support benchmark, trading around $2,312.64 following a 1.17% 24-hour decline and a 4.58% drop over seven days.