“The Ethereum Foundation is selling, so $ETH is collapsing.” It’s the most widely shared phrase this weekend. The numbers tell a more nuanced story.
According to Onchain Lens (reported by ChainCatcher and verified on-chain by ABMedia), a wallet linked to the Ethereum Foundation sold 7,500 ETH from 10/14 November, in six transactions via CoW Swap, for around $14.5M in USDS. The largest sale, 2,500 ETH at around $1,839, took place on 14/11 at around 15:17 UTC. About 7,500 ETH would remain in this wallet.
Now, for some perspective. Over the past 24 hours, Binance’s ETH/USDT spot pair alone traded around $1.09B. So five days of Foundation sales amount to roughly 1.3% of a single day’s volume on a single pair. That’s not what’s bringing the market down.
What really weighed on the market was leverage. Overnight, ETH wicked down to $1,711 on Binance (15/11, at 01:00 UTC), its lowest since 3 July, in the same liquidation flush that took $BTC to $62,006. Since then, it has rebounded around 6.8% to $1,828 as of 09:45 UTC. On Binance Futures, the share of accounts buying ETHUSDT fell from 75% to 71.5%.
What’s still true, though: the Foundation’s treasury policy, published in 2025, provides for regular sales to cover its expenses. So these sales are predictable, but they’re happening in an already fragile market and adding to the sentiment.
The levels I’m watching: the 3 July low at $1,695 as support. A daily close below that would open up the $1,600 zone. Above, reclaiming $1,900 would be the first sign that last night’s wick marked a bottom.
Do you see the Foundation’s sales as a real signal or just treasury noise?
#Ethereum #CryptoMarket
Sources: Binance ETHUSDT API (4h spot, 24h ticker, long/short ratio, 15/11 09:45 UTC), Onchain Lens via ChainCatcher, ABMedia. Not financial advice.
According to Onchain Lens (reported by ChainCatcher and verified on-chain by ABMedia), a wallet linked to the Ethereum Foundation sold 7,500 ETH from 10/14 November, in six transactions via CoW Swap, for around $14.5M in USDS. The largest sale, 2,500 ETH at around $1,839, took place on 14/11 at around 15:17 UTC. About 7,500 ETH would remain in this wallet.
Now, for some perspective. Over the past 24 hours, Binance’s ETH/USDT spot pair alone traded around $1.09B. So five days of Foundation sales amount to roughly 1.3% of a single day’s volume on a single pair. That’s not what’s bringing the market down.
What really weighed on the market was leverage. Overnight, ETH wicked down to $1,711 on Binance (15/11, at 01:00 UTC), its lowest since 3 July, in the same liquidation flush that took $BTC to $62,006. Since then, it has rebounded around 6.8% to $1,828 as of 09:45 UTC. On Binance Futures, the share of accounts buying ETHUSDT fell from 75% to 71.5%.
What’s still true, though: the Foundation’s treasury policy, published in 2025, provides for regular sales to cover its expenses. So these sales are predictable, but they’re happening in an already fragile market and adding to the sentiment.
The levels I’m watching: the 3 July low at $1,695 as support. A daily close below that would open up the $1,600 zone. Above, reclaiming $1,900 would be the first sign that last night’s wick marked a bottom.
Do you see the Foundation’s sales as a real signal or just treasury noise?
#Ethereum #CryptoMarket
Sources: Binance ETHUSDT API (4h spot, 24h ticker, long/short ratio, 15/11 09:45 UTC), Onchain Lens via ChainCatcher, ABMedia. Not financial advice.
