At press time, the Ethereum Foundation sold 15,000 ETH. On the last two occasions when the Ethereum Foundation opted to divest its holdings, the market value of ETH decreased.
In terms of activity, the Ethereum network took a massive hit. Over the last month, the overall number of NFT trades occurring on the network declined materially.
Consequently, there was a decline in gas usage as well.Notably, if the activity on Ethereum continues to decline, it could impact the protocol negatively in the future.
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