According to @EmberCN, Argot Collective, a non-profit development organization that received 7,000 ETH in operational funding from the Ethereum Foundation, has continued to sell its holdings. The organization recently sold an additional 1,210 ETH for 4.09 million USDC. This transaction is part of a larger sell-off that began on July 11, during which Argot Collective has converted a total of 3,626.6 ETH into 11.2 million USDC at an average price of $3,089. This consistent selling by a foundation-funded entity could be interpreted by traders as an increase in selling pressure on the ETH market.

According to @EmberCN, the Argot Collective, a non-profit development organization that received 7,000 ETH in operational funding from the Ethereum Foundation, has continued to sell its holdings. The organization recently sold another 1,206.6 ETH for 3.61 million USDC. Over the past day, Argot Collective has sold a total of 2,416.6 ETH for 7.106 million USDC, achieving an average sale price of $2,941 per ETH. This consistent selling activity from a foundation-funded entity could contribute to increased selling pressure on the Ethereum (ETH) market.

According to @EmberCN, a recent sale of 1,210 Ethereum (ETH) was conducted by Argot Collective, a non-profit development organization, and not the Ethereum Foundation itself. The clarification, provided by Ethereum Foundation member @hwwonx, indicates the funds originated from a 7,000 ETH grant transferred from the Foundation to Argot Collective on July 4th. This transaction clarifies that the recent market sell pressure came from a grant recipient for operational purposes, rather than a direct treasury sale by the Ethereum Foundation, which is a key distinction for traders evaluating foundation activity.