Ethereum is under more pressure this week as a Foundation-linked wallet dumped thousands of ETH, shaking investor confidence. The timing raised concerns, especially as U.S. inflation data and government remarks also pressured the crypto market. This goes on as the Ethereum price trades $4,412.54, down 0.32% in a day.
According to blockchain tracker Lookonchain, wallet 0xF39d, tied to the Ethereum Foundation, sold 7,294 ETH ($33.25M) in just three days at an average of $4,558. The same wallet has a strong trading history, previously buying 33,678 ETH in 2022 for $1,193 each.
On August 15, it sold another 1,300 ETH ($5.87M), bringing its three-day total to 6,194 ETH at an average of $4,578. Earlier, on August 13, the wallet offloaded 2,795 ETH across multiple sales.
The selloff coincided with hot U.S. inflation data. July’s PPI rose 3.3% YoY, which reduced expectations of Federal Reserve rate cuts. Additionally, Treasury Secretary remarks confirmed no immediate plans for BTC or ETH purchases in U.S. strategic reserves. These factors combined with Foundation-linked sales created fresh waves of uncertainty in Ethereum’s short-term outlook.
Besides that, institutions showed resilience as reported by Crypto Patel on X. SharpLink Gaming added 130,000 ETH, lifting its total to 728,804 ETH ($3.38B). Bitmine also bought 28,650 ETH (~$130M), raising its total stash to 1.17M ETH ($5.1B). Consequently, strong institutional demand helped balance panic selling from retail traders.
On the technical front, cryptocurrency expert Ether Wizz points out that Ethereum’s current pricing pattern resembles what happened during its big jump in 2017. Back then, before it broke through its 50-week SMA and started to rise, ETH consolidated for a short period.
The situation appears to be similar in 2025, as prices once more find support above the moving average. According to him, ETH will reach $10,000 this cycle and may yet rise.
The recent activity in wallets associated with the Ethereum Foundation is putting short-term pressure on the market. While ETH is still quite a distance from its previous highs, the technical indicators and growing institutional interest suggest potential for a rebound. “It is a crime to believe that ETH has topped,” observes expert Ether Wizz.
