Surprise Move: Ethereum Foundation Sells $3.5 Million in ETH During Rally

The Ethereum Foundation recently sold 1,210 ETH for approximately $3.5 million, according to on-chain monitoring platform Lookonchain. The transaction took place at an average price of around $2,890 per unit over the past six hours, the source indicated.

The sale comes amid a sharp rally in the cryptocurrency market, with ETH surpassing the $3,000 threshold for the first time since February 2025. Over the past week, ETH has recorded a 16.7% increase, while in the last 24 hours alone it gained over 8%.

More broadly, Bitcoin’s price recently reached a new all-time high, exceeding $118,000.

Historically, the Ethereum Foundation conducts such sales to fund development activities and generally prefers to sell during price rallies. However, these transactions do not necessarily indicate a market top. For example, in 2024, the Foundation made several consecutive sales in September, October, and November, before ETH reached a local peak in December.