Ethereum Foundation sold 1,210 ETH for $3.496 million USDC at a rate of $2,889.50 per ETH.
ETH price rose 7.79% in 24 hours to $2,994.29, with trading volume reaching $35.53 billion.
ETH is approaching key resistance near $3,200 after finding strong support at $2,323.88.
The Ethereum Foundation has completed a notable ETH-to-USDC transaction, converting 1,210 ETH into approximately $3.496 million. This transaction, recorded by on-chain data, priced each ETH unit at $2,889.50, continuing the positive move with a 7.79% uptick in the Ethereum price trend.
ETH Transfers Traced Across Multiple Wallets
According to a recent post on X by EmberCN, the activity began with the Ethereum Foundation transferring 21,000 ETH to an address starting with 0xc06 within the past month. Six days ago, that address forwarded 7,000 ETH to a new wallet beginning with 0x247. This wallet then sent 1,210 ETH to another address, labeled 0x340, earlier today.
https://twitter.com/EmberCN/status/1943468170523873782
Shortly after receiving the funds, the 0x340 address sold the full 1,210 ETH for 3.496 million USDC. The proceeds were then moved back to the 0x247 address, closing the loop. Each step remains visible on-chain and corresponds with known Ethereum Foundation addresses.
What is the Current Market Trend?
Tracking the ongoing market performance at the time of press, a comparative chart between Ethereum and USDC indicates that ETH trades at $2,994.29, showing a 7.79% price increase within 24 hours. The market capitalization rose to $361.45 billion, reflecting the same percentage increase as the price change.
Source: CoinMarketCap
Trading volume reached $35.53 billion, marking a 22.18% gain compared to the previous 24-hour period. The volume-to-market cap ratio stood at 9.85%, indicating strong liquidity conditions in Ethereum’s market. The chart showed a noticeable upward movement in ETH price over the past 24 hours. On the other hand, USDC was priced at $0.9997, showing a slight deviation of -0.03% from its peg. USDC maintained near parity with the U.S. dollar throughout the displayed trading period.
Ethereum Technical Analysis: Key Resistance as Weekly Price Closes Near $2,800
According to a recent observation by Crypto Ceaser, Ethereum’s price has posted a strong recovery this week, closing at $2,793.22 on July 10, 2025. The market recorded an 8.64% increase, placing ETH near a long-standing resistance zone. This area, which previously triggered several rejections, now serves as a focal point for the next major move.
Source: Crypto Ceaser (X)
Price found solid support near $2,323.88 before the current rebound began. This level had previously acted as a floor during multiple market corrections. Since late 2022, Ethereum has printed higher lows, forming a visible ascending structure on the weekly timeframe. ETH is now approaching resistance near $3,200, with past data showing repeated failure to break that zone.
If the asset maintains this momentum, the next visible resistance area stands between $4,000 and $4,400. Historical reactions in this price range remain well-documented. Ethereum continues to trade above its long-term trendline, reinforcing market structure. Current positioning indicates strong market support ahead of upcoming sessions.
