The Ethereum Foundation (EF) continues its strategy of selling Ether (ETH) for stablecoins to pay employees and approved services. On-chain data reveals that the EF recently deposited 100 ETH into Cow Protocol and exchanged it for Dai (DAI) stablecoins. This follows the EF's previous sales of 4,366 ETH worth over $12.21 million at an average price of $2,796. Despite the ongoing crypto correction and competition from other layer one chains like Solana (SOL), the EF's continued Ether sales suggest that significant developments are expected in the near future. The upcoming Pectra upgrade for Ethereum aims to improve speed, scalability, and user-friendliness, which will be crucial for the long-term success of Ethereum's web3 ecosystem.



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