Ethereum Foundation Continues to Sell ETH Holdings, Made $12.62M in Sales This Year

The recent sale shows how the Ethereum Foundation has a desire established to systematically dispose of its assets.

The recent sale by the Ethereum Foundation, where 100 ETH were sold for $420.47K, has been closely monitored by Arkham Intelligence on December 17, 2024. Throughout 2024, the foundation has sold a total of 4,664 ETH, which roughly equates to $12.62 million.

This sale by the foundation is denoted by the hashtag "#Ethereum" in a tweet by Lookonchain. The tweet also highlights that the foundation has sold a total of 4,466 ETH this year, which amounts to approximately $12.62 million.

The sales, which are being carried out systematically, indicate the foundation's intention to gradually dispose of its assets. Many investors interpret these ongoing sales as the foundation's efforts to maintain reserves, fulfill requirements, and support their projects.

Being the organization responsible for the Ethereum ecosystem, the foundation plays a key role in managing and further developing the ecosystem, which has attracted the attention of analysts and investors who are closely following the company's sales.

While this latest sale is smaller compared to the previous ones, it aligns fully with the trend observed since January 1, 2024. However, these sales have sparked concern among investors regarding the foundation's supply of Ethereum.

At the time of writing, the price of Ethereum is at $4,005, with a narrow spread between $3,980 and $4,020, indicating that the coin is in a consolidation phase. Despite the recent price movement, the ETH is yet to cross the resistance level, which currently stands at $4,041.31. The coin's support level also lies at $3,980, having experienced a few minor bounces during the early trading session.

A glance at the technical data on TradingView reveals a neutral momentum. For instance, the Ethereum's RSI is currently at 52.22, indicating that the Ethereum coin is at a middle ground and it's neither overbought nor oversold.

On the flip side, the coin does exhibit a bearish divergence, according to the MACD indicator. Moreover, the MACD line is below the signal line, and the histogram forms a negative interval with the current MACD value at—0.70, implying short-term selling pressure.

If the price of Ethereum manages to rise above $4,020, it will signal a breakout and a bullish run. Conversely, if the price shifts below $3,980, it may as well test the other lower supports. As traders eagerly await any hint on the direction the coin will turn, they must exercise greater vigilance.

The Ethereum Foundation's plan to gradually sell off its holdings also aligns with the company's earlier funding practices. As the holding is linked either to fiat or stablecoin, the foundation ensures funding for the long-term needs and projects.

While some market participants may view the Ethereum Foundation sales as bearish, others consider them neutral. More so, the foundation has implemented an open operating model where the community can quickly understand whether or not the foundation holds their interest. Another important aspect which is crucial for the foundation is its ability to continue developing Ethereum’s ecosystem.

As we approach the last days of 2024, analysts remain focused on various activities around Ethereum. Any increase in the foundation's liquidation could affect investors' perceptions, especially if ETH runs into more general market issues.