Ethereum Foundation sold more than 12.7 million USD ETH when the price exceeded 4,500 USD

According to on-chain data, a wallet believed to belong to the Ethereum Foundation sold 2,795.$ETH for a total value of 12.7 million USD when the ETH price surpassed the 4,500 USD mark.

Transaction details and market context

These transactions took place in the early morning of August 13. This wallet sold 1,695 ETH at a price of around 4,556 USD and continued to sell another 1,100 ETH at a price of 4,602 USD, in exchange for the stablecoin DAI. This move attracted attention because #EthereumFoundation plays an important role in the Ethereum ecosystem.

This sale occurred amid a strong upward trend in ETH prices, surpassing 4,660 USD, just a small distance from the historic peak of 4,878 USD. Over the past 30 days, ETH has outperformed Bitcoin thanks to large capital inflows from ETF funds and companies accumulating ETH.

Reactions and predictions

Although the volume of ETH sold is not large compared to the total amount bought by institutions, this move could still create a cautious sentiment for some short-term investors. However, analysts believe that overwhelming buying power from ETF funds and large companies like BitMine and SharpLink Gaming is still strong enough to maintain the upward momentum of ETH. #anh_ba_cong