Blockchain data shows that a wallet associated with the Ethereum Foundation sold 4,095.18 ETH for approximately $18.75 million in DAI, averaging $4,578 per token.
This transaction followed a series of previous sales, including 1,694.8 ETH worth $7.72 million just a few hours earlier. The wallet sold another 1,100 ETH for $5.06 million at an average price of $4,602. In total, more than 2,794 ETH, valued at $12.78 million, were sold in the first two hours.
Despite these substantial transactions, the market barely reacted. Traders claim this demonstrates the depth of Ethereum's liquidity and the growing role of long-term holders, in contrast to the more volatile reactions seen in previous cycles.
The Ethereum Foundation is not the only major seller. An entity called "7 Siblings" has sold nearly 20,000 ETH for approximately $90.4 million in USDC, averaging $4,532. They became famous for hoarding 100,000 ETH during the crash on August 5 of last year. Even after the sale, they are said to hold around 280,000 ETH, worth $1.3 billion at current prices.
Previously, they had acquired 103,543 $ETH for a value of $229.7 million at an average price of $2,219 between February 3 and April 7.