‘Incredibly Frustrating:’ Ethereum Foundation’s Latest ETH Sale Draws Criticism
The main altcoin has been underneath stress recently, and studies that the Ethereum Foundation has began dumping tokens once more might additional weaken its place.
In truth, these revelations seem to have weighed on investor sentiment, pushing ETH’s Fear and Greed Index deeper into concern territory.
So Much Selling
Earlier in the present day (October 26), Lookonchain disclosed {that a} pockets linked to the Ethereum Foundation (a non-profit group that helps the event and development of the Ethereum ecosystem) offloaded 2,785 models for round $6.42 million.
The entity additionally famous that the final suspected sale of that kind was two weeks in the past and was adopted by a 9% value decline. At the time, two wallets tied to the Ethereum Foundation deposited $11.13 million value of ETH into Kraken, a transfer typically seen as a pre-sale step.
Shortly after, Lookonchain said one other Ethereum OG dumped 1,500 models (equaling roughly $3.46 million) after 9 years of inactivity. The investor initially purchased 100,000 ETH for less than $31,000 by way of the 2015 ICO and nonetheless holds 48,500 ETH (about $112.7 million).
X consumer Ted said that seeing these gross sales once more is “extremely irritating.” While the analyst reaffirmed his assist for ETH, he questioned why buyers continuously promote the asset as a substitute of doing extra to extend its worth.
“Start pondering severely about buybacks. Create stronger incentives for L2s to build up and purchase again ETH. Improve ETH worth seize. The ecosystem is unimaginable. Now we’d like the economics of the token to mirror that,” he added.
Maelstrom CIO Arthur Hayes additional amplified the current sell-off. As CryptoPotato reported, he dumped about $22.28 million value of altcoins, together with 6,400 ETH (roughly $15.2 million). Speaking on the matter, he stated:
I dumped all of it. The Maelstrom directional e book, took earnings on $ETH, $ENA, $UNI and different shitcoins. I feel we gotta go all the way down to go up. It seems to be a bit dicey on the market in macro and geopolitical land. Going to take a seat on the sidelines and look ahead to the all clear sign … Brrrrr
— Arthur Hayes (@CryptoHayes) October 24, 2026
The promoting spree is taken into account bearish for 2 predominant causes. First, it will increase the availability of cash on the open market, which might drag the worth decrease if demand fails to maintain tempo. Second, it might undermine investor confidence and immediate smaller gamers to money out. In truth, ETH’s Fear and Greed Index has plunged to 31 in the present day, reflecting rising anxiousness and warning among the many neighborhood.
BitMine Keeps Buying
In distinction to the current sellers, BitMine continues to extend its ETH holdings. The firm purchased a further 10,452 models, bringing its whole holdings to six,051,933 cash, or about 4.95% of Ethereum’s provide, and nearing its bold purpose of controlling 5% of all belongings in circulation.
In addition, BitMine repurchased 2.04 million shares at a mean value of $22.48, bringing its buybacks to 22.9 million shares, or virtually $400 million. The entity has staked 5.23 ETH, about 12% of all cash locked within the community.
As CryptoPotato just lately reported, Ethereum completed the third quarter with 43.8 million cash staked after almost 2 million models flowed into staking throughout that interval. This alerts long-term investor confidence, particularly contemplating that the annualized staking yield has continued to say no, falling from 2.81% to 2.63%.
The put up ‘Incredibly Frustrating:’ Ethereum Foundation’s Latest ETH Sale Draws Criticism appeared first on CryptoPotato.
