Ethereum price moved slightly early Thursday as fresh scrutiny hit with the Ethereum Foundation (EF)’s move to convert a significant portion of its treasury from ETH into stablecoins. While the announcement coincided with the volatile price action that followed the US-Iran ceasefire, the top altcoin’s value pared some of the gains to around the $2,180 level as on-chain data showed EF’s treasury had sold 3,750 ETH for over $8.3 million. Ethereum Foundation sold $8.3 million ETH On Wednesday, it was revealed that the Ethereum Foundation had initiated the conversion of 5,000 ETH into stablecoins. The strategy has already seen the non-profit supporting Ethereum offload 3,750 ETH worth roughly $8.
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