‘Incredibly Frustrating:’ Ethereum Foundation’s Latest ETH Sale Draws Criticism

On October 26, Lookonchain disclosed that a wallet linked to the Ethereum Foundation, the nonprofit that supports the Ethereum ecosystem, sold 2,785 ETH for about $6.42 million. Lookonchain said a suspected foundation sale two weeks earlier was followed by a 9% ETH price decline, after two foundation-linked wallets deposited $11.13 million of ETH into Kraken. The latest sale drew criticism from X user Ted, who called repeated sales incredibly frustrating, while ETH’s Fear and Greed Index fell to 31.