Ethereum Foundation Sells ETH US$6.42 Million, Is ETH Price Under Pressure?

Two weeks ago, two wallets linked to the Ethereum Foundation deposited ETH worth USD 11.13 million to Kraken. The ETH price then fell about 9 percent, according to Lookonchain data. 

On October 26, 2026, Ethereum Foundation sold another 2,785 ETH worth about USD 6.42 million. The news that the Ethereum Foundation sold ETH emerged as today's Ethereum price held around USD 2,300.

Key Takeaways

• A wallet linked to the Ethereum Foundation sold 2,785 ETH worth about USD 6.42 million on October 26, 2026.
• ETH price held around USD 2,300, while the ETH Fear and Greed Index fell to 31.
• The sale value is relatively small compared with the market. What draws more attention is its impact on sentiment.

Chronology of the Ethereum Foundation ETH Sale

According to CryptoPotato, Lookonchain revealed on October 26 that a wallet connected to the Ethereum Foundation released 2,785 ETH worth about USD 6.42 million. According to Blockonomi as summarized by Pluang, the ETH was sold via CoW Swap and swapped into USDS.

This pattern is not the first. Lookonchain noted a similar sale that allegedly occurred two weeks earlier, when two wallets linked to the Ethereum Foundation deposited ETH worth USD 11.13 million to Kraken. That move is often read as preparation before selling, and the ETH price was said to fall about 9 percent afterward.

It should be noted that neither source has explained what the proceeds from the sale will be used for. Blockonomi also assesses that this transaction adds to the record of the foundation's cash movements, but does not explain the price decline currently underway.

For those who want to monitor ETH movements while managing a portfolio, you can register at Bittime, a local crypto platform operating under OJK supervision.

Read Also: CoinDCX Hack: 15.99 Million USDT Lost, Was Initially Called a False Alarm

Latest ETH Price When the Sale Occurred

Based on CoinMarketCap data when this article was compiled, the ETH price was at USD 2,325.69, or around Rp41 million. The asset fell about 1.69 percent in 24 hours, with a daily range of USD 2,291.70 to USD 2,347.60. 

24-hour trading volume reached about USD 10.57 billion and its market capitalization was about USD 281.91 billion, placing ETH in second place.

Its price level is still far below the all-time high of USD 4,953.73 recorded on August 24, 2025. Compared with that peak, ETH is now corrected by about 53 percent.

According to Blockonomi as summarized by Pluang, ETH fell 1.17 percent in 24 hours and 4.58 percent in a week. Analysts are watching whether buyers can reclaim USD 2,360 as a recovery signal, while USD 2,300 is the support area currently being tested.

Pressure is also visible in the derivatives market. Pluang reported the liquidation of ETH long positions worth USD 3.17 million on Binance, Bybit, and OKX when the price fell 2.1 percent in four hours on Sunday night US time. Those interested in contract-based products can read about developments in Futures at Bittime.

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How Big Is the Impact of the ETH Sale?

In terms of the numbers, 2,785 ETH is relatively small. That amount is only about 0.002 percent of the 122.16 million ETH in circulation, and its value is about 0.06 percent of 24-hour trading volume. This calculation is a simple comparison, not an official analysis.

Even so, CryptoPotato says sales like this are viewed as bearish for two reasons. First, supply in the open market increases. Second, investor confidence can erode so that smaller players also release assets. The CFGI ETH Fear and Greed Index fell to 31, signaling anxiety.

That mood was reinforced by other selling. Lookonchain said an early holder from the 2015 ICO released 1,500 ETH, equivalent to about USD 3.46 million, after nine years of inactivity. Arthur Hayes was also said to have sold altcoins worth about USD 22.28 million, including 6,400 ETH. 

An analyst on X described the series of sales as "incredibly frustrating", then proposed an ETH buyback and stronger incentives for layer 2 to accumulate ETH.

However, the demand side has not disappeared. BitMine added 10,452 ETH, bringing its total to 6,051,933 ETH, or about 4.95 percent of supply. On the other hand, the amount of ETH being staked reached 43.8 million at the end of the third quarter, although the annual yield fell from 2.81 percent to 2.63 percent.

On the ecosystem side, Ethereum still leads DeFi total value locked, according to Blockonomi, while Solana dominates DEX volume. This means price pressure does not automatically reflect weakening network usage.

Read Also: LayerZero Zero Mainnet Will Launch on November 30, Get to Know lzATLAS

Conclusion

The sale of 2,785 ETH by a wallet linked to the Ethereum Foundation occurred as the price tested USD 2,300 support. The value is small compared with the market, but the repeated selling pattern and fragile sentiment make it easy to read as a negative signal. 

Monitor the USD 2,300 and USD 2,360 areas, and decide on transactions according to your own risk profile.

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FAQ

1. How much ETH did the Ethereum Foundation sell?

A wallet linked to the Ethereum Foundation sold 2,785 ETH worth about USD 6.42 million on October 26, 2026.

2. Is this sale the cause of the ETH price decline?

Not necessarily. Blockonomi says the transaction does not explain the price decline, which is also influenced by market sentiment and selling by other parties.

3. At what level is the ETH price now?

According to CoinMarketCap, ETH was trading at around USD 2,307 when this article was compiled. The figure moves in real time, so check the latest price before transacting.

4. Are ETH supply and demand still balanced?

There are signals in both directions. Selling by the foundation and early holders adds supply, but BitMine's purchases and the rise in ETH being staked show that long-term demand still exists.