According to PANews, a blockchain analyst named Yu Jing reported that the Ethereum Foundation transferred 1,000 ETH, equivalent to $3 million, to a multi-signature contract address an hour ago. Based on previous patterns, it is expected that these ETH will be sold in batches and converted into DAI, before being transferred to the Ethereum Foundation's funding wallet.
Ethereum Foundation Transfers 1,000 ETH, Likely To Be Exchanged For DAI
![](https://public.bnbstatic.com/image/pgc/202211/ff39a105a210ecd0a61407a69ad82dbd.jpg)
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