Ethereum Foundation Sells 1,100 ETH Worth $5M in Fresh Move

The #EthereumFoundation-linked wallet(0xF39d) sold another 1,100 $ETH($5.06M) at $4,602A wallet linked to the Ethereum Foundation has sold 1,100 ETH worth $5.06 million. On-chain tracker Lookonchain reported the transaction occurred at an average price of $4,602. The move comes amid a series of large transfers by the same wallet today. Blockchain data shows the wallet, identified as 0xF39d, processed the sale approximately four hours ago. The recipient address converted the assets into DAI, signaling a shift to stablecoin holdings.

Larger Sell-Off Totals 1,695 ETH Today

The 1,100 ETH transaction was not the only activity from the wallet. Within the past two hours, it sold an additional 595 ETH. These combined sales brought the day’s total to 1,695 ETH, valued at around $7.72 million. Lookonchain confirmed the assets were sold at an average price of $4,556 for the earlier trades. The transactions reflect continued liquidity movements from one of Ethereum’s most recognized institutional-linked wallets.

Wallet Origins and Holdings

Historical records show the wallet originally received 20,756 ETH from the Ethereum Foundation’s primary wallet in 2017. At current prices, this holding is worth about $95.5 million. Despite today’s transactions, the wallet retains a significant balance. The recent activity represents less than 10% of its known ETH holdings. Analysts note such moves often precede operational expenses, development funding, or portfolio rebalancing.

Market Context and Reactions

The ETH price has traded within the $4,550-$4,600 range over the past day. While the sale’s size is notable, it has not triggered significant market volatility. Traders are watching for any follow-up transactions, as further large sales could influence sentiment. 

Some analysts view the move as routine treasury management. Others interpret it as a signal of cautious positioning ahead of potential market shifts. The Ethereum Foundation has previously stated that it uses ETH sales to fund ecosystem development and operational needs.

With over 20,000 ETH still in the wallet, market watchers will continue monitoring for additional large movements. Given Ethereum’s role as the second-largest cryptocurrency, institutional activity around its native token often draws heightened market attention.