Ethereum Foundation’s ETH Sale Converts 2,785 ETH Into About $6.42M in USDS

The Ethereum Foundation’s ETH sale converted 2,785 ETH into approximately $6.42 million in USDS through CoW Swap on October 26, 2026, as Ethereum traded just above the $2,300 support level identified by analyst Ella. Onchain Lens reported the transaction on X, while CoinGecko figures showed ETH declining over both the daily and weekly periods.

Key takeaways

• The Foundation exchanged ETH for USDS rather than moving tokens between wallets.
• Ella’s recovery threshold for Ethereum is $2,360.
• Ethereum retains its DeFi TVL lead despite weaker prices.

The Ethereum Foundation’s ETH sale changes treasury assets

The transaction changed the composition of the Foundation’s holdings: ETH was exchanged for USDS through CoW Swap. It was a treasury sale, not simply a transfer of the same tokens to another wallet.

Onchain Lens identified the address involved as 0x5CBC6299faB3320E7758ac97fd4CA45E5B722059.

Ethereum trades near Ella’s $2,300 support

Ethereum traded at $2,312.64 at press time, according to CoinGecko, placing it above Ella’s $2,300 support level. ETH declined by 1.17% over 24 hours and 4.58% over seven days, while daily trading volume reached $8,165,164,939.

Writing on X, Ella described a pattern of progressively smaller rebounds. Ethereum had returned toward $2,300 after failing to sustain a move above $2,360.

Her threshold for calling another bounce a recovery is a reclaim of $2,360. In that scenario, she identified $2,400 as the next area in view.

Her downside scenario places the next support area at approximately $2,250 if ETH breaks cleanly below $2,300. Those levels form her conditional chart outlook, rather than confirmed price destinations.

Ethereum’s DeFi lead contrasts with price weakness

According to analyst Daan Crypto Trades, Ethereum remains the top network for DeFi total value locked, a position he credits to major decentralized finance protocols keeping most of their deposited funds on the Ethereum chain.

Total value locked reflects the amount of assets held within DeFi protocols, a metric separate from token price movements and trading volume figures.

In Daan’s ranking, Base came in second with 6.9% of total TVL, whereas Solana topped the list for decentralized exchange volume, a dominance he tied to its faster speeds and lower costs compared to Ethereum.

The analyst also emphasized that trading volume can move rapidly between chains as market attention changes, noting that a single successful meme coin can alter the rankings. His comparison distinguished Ethereum’s lead in deposited capital from Solana’s lead in decentralized exchange trading.

Article produced with the assistance of artificial intelligence and reviewed by the editorial team.