Ethereum Foundation Linked Wallet Sells 1,000 ETH

A wallet linked to the Ethereum Foundation has sold another 1,000 ETH worth approximately $2.03 million through CoW Protocol, receiving around 2.025 million USDS, according to CryptoNews. The transaction brings the address's reported sales over two consecutive days to 2,000 ETH, following a two-week pause in activity.

Continued Sales and Token Transfers

According to blockchain analytics platform Lookonchain, the address completed the latest transaction on November 11 at an average price of roughly $2,025 per ETH. This follows a previous sale of 1,000 ETH worth approximately $2.13 million on November 10. Earlier, the same address sold 2,785 ETH worth $6.42 million on October 26, bringing total reported sales across the three dates to 4,785 ETH valued at approximately $10.58 million.

Other wallets associated with the Ethereum Foundation have also engaged in sizable transfers over the past month. On October 12, two wallets linked to the Foundation transferred 4,393 ETH worth approximately $11.13 million to cryptocurrency exchange Kraken. Blockchain analyst EmberCN traced the addresses to an Ethereum Foundation wallet that distributed 59,751 ETH approximately ten years earlier.

Market Context and Technical Levels

The latest wallet activity occurred as Ethereum continued trading close to $2,000 following several days of losses. Technical indicators favor sellers, with the 14-day Relative Strength Index standing at 30.36, placing the asset close to oversold territory. Immediate resistance stands at $2,133, while a break below the $1,923 support level could expose the cryptocurrency to further losses.

Key facts

• An Ethereum Foundation-linked wallet sold 1,000 ETH worth approximately $2.03 million on November 11.
• The address sold a total of 2,000 ETH over two consecutive days, generating $4.16 million in stablecoins.
• Across October 26 and November sales, the address has reportedly sold 4,785 ETH worth roughly $10.58 million.
• Lookonchain identified the transactions, noting the use of CoW Protocol for the swaps.
• Ethereum traded near $2,000 with immediate resistance at $2,133 and support at $1,923.