A wallet linked to the Ethereum Foundation (0xF39d) sold 1,695 ETH ($7.72 million) at an average price of $4,556, as tracked by Lookonchain. Separately, another foundation-associated address offloaded 4,095 ETH ($18.75 million) for DAI stablecoins at $4,578 per ETH, per Onchain Lens data. Combined, these transactions total 5,790 ETH sold for approximately $26.5 million within a single day.
The 0xF39d wallet originally received 20,756 ETH from the foundation in 2017 (currently valued at ~$95.5 million), retaining over 90% of its holdings post-sale. Both transactions converted proceeds to DAI, signaling operational liquidity needs. Historical records indicate such sales typically fund ecosystem development, grants, or treasury rebalancing rather than bearish positioning.
ETH prices remained stable between $4,550-$4,600 during the sales, with analysts noting the amounts represent less than 0.03% of Ethereum's daily trading volume. The foundation has previously clarified that ETH disposals support long-term ecosystem growth, with market observers monitoring remaining foundation wallets holding substantial ETH balances.