Ethereum Foundation Sells ETH as Price Peaks

The following article is adapted from The Block’s newsletter, The Daily, which is published on weekday afternoons. Happy Wednesday! As the price of Ether hovers just under 3% from its all-time high, we wonder: Is the long-awaited alt season finally here, or is this merely another bull trap? We’ll know soon enough. In today’s edition, the Ethereum Foundation sells millions of dollars worth of ETH during its latest price surge, Solana rallies 15% to hit $200, Grayscale registers new Cardano and Hedera Trust ETF entities, and more. Meanwhile, the Norway sovereign wealth fund’s indirect exposure to Bitcoin has grown to 7,161 BTC as its strategic holdings exceed $1 billion. Let’s dive into the details. **Ethereum Foundation Sells ETH** The Ethereum Foundation has sold approximately 2,795 ETH, totaling around $12.7 million, amid the cryptocurrency’s push towards all-time highs. **Solana Surges to $200** On Wednesday morning, Solana made a remarkable 15% jump to reclaim the $200 mark as optimism spreads through the altcoin market. **Grayscale Registers New ETF Entities** Crypto asset manager Grayscale has filed for the Cardano Trust ETF and Hedera Trust ETF in Delaware as of Tuesday, hinting at potential S-1 registrations. **Standard Chartered Predicts Higher Ethereum Targets** Standard Chartered revised its Ethereum price targets, increasing the year-end forecast from $4,000 to $7,500 and the 2028 target from $7,500 to $25,000. **Odin.fun Exploit** The Bitcoin-based memecoin launchpad and trading platform, Odin.fun, suffered a significant exploit, losing 58.2 BTC—valued at about $7 million—due to a liquidity manipulation attack on its automated market-making tool. **In the Next 24 Hours** Stay updated with The Block’s daily digest, covering the most influential events in the digital asset ecosystem. *Disclaimer: This article was created with the help of OpenAI’s ChatGPT and thoroughly reviewed by our editorial team.* *Disclaimer: The Block is an independent media organization that provides news, research, and data. As of November 2023, Foresight Ventures is a major investor in The Block. Foresight Ventures also invests in other companies in the crypto sector. The Block continues to operate independently to ensure objective and timely information regarding the crypto industry. Here are our current financial disclosures.* © 2025 The Block. All Rights Reserved. This article is for informational purposes only and should not be taken as legal, tax, investment, or financial advice.