An Ethereum Foundation-linked address has sold another 2,000 ETH, bringing its total sales to 6,785 ETH
Data shows that an Ethereum Foundation-linked address, 0x5CB...22059, sold another 2,000 ETH today, worth about $3.868 million. At the time, the price of ETH had just fallen below $2,000.
Since October 26, this address has sold a total of 6,785 ETH, worth about $14.45 million. It currently still holds 21,247 ETH, worth about $41.1 million.
Personally, I don’t think the Foundation selling tokens is anything new—it has happened several times in the past and is more likely due to operational funding needs, not necessarily a bearish signal. But this round of selling came as the price fell below $2,000, with market sentiment already extremely fearful. In the short term, it could indeed add to selling pressure and make it harder for support levels below to hold.
So I didn’t go short or buy the dip because of this news. I’m keeping my position under control and focusing on whether ETH can stabilize around $1,900, rather than following the Foundation’s selling pace.
What do you think? Is this routine operational selling, or are they really reducing their holdings?
Data shows that an Ethereum Foundation-linked address, 0x5CB...22059, sold another 2,000 ETH today, worth about $3.868 million. At the time, the price of ETH had just fallen below $2,000.
Since October 26, this address has sold a total of 6,785 ETH, worth about $14.45 million. It currently still holds 21,247 ETH, worth about $41.1 million.
Personally, I don’t think the Foundation selling tokens is anything new—it has happened several times in the past and is more likely due to operational funding needs, not necessarily a bearish signal. But this round of selling came as the price fell below $2,000, with market sentiment already extremely fearful. In the short term, it could indeed add to selling pressure and make it harder for support levels below to hold.
So I didn’t go short or buy the dip because of this news. I’m keeping my position under control and focusing on whether ETH can stabilize around $1,900, rather than following the Foundation’s selling pace.
What do you think? Is this routine operational selling, or are they really reducing their holdings?
