Ethereum Foundation Denies Sale of 2,794.87 ETH
Ethereum Foundation (EF) joint executive director Hsiao-Wei Wang has clarified via Twitter that the 2,794.87 ETH sale executed yesterday over a two-hour period did not originate from any addresses controlled by the Ethereum Foundation. The EF pointed out that its residual holdings, representing less than 0.3% of ETH’s total supply from the 2014 ICO, are dispersed across numerous legacy addresses, which can lead to misattribution in blockchain monitoring. This statement aims to dispel market uncertainty about a potential Foundation-driven sell-off, maintaining positive trading sentiment for ETH. Crypto traders should note that this high-volume ETH sale was independent of the Ethereum Foundation’s operations.
Neutral
The Ethereum Foundation’s public denial directly addresses FUD around a significant ETH sell-off allegedly tied to its addresses. By clarifying that this 2,794.87 ETH transaction was unauthorized, the EF removed uncertainty and prevented undue downward pressure on ETH prices. In the short term, traders can avoid panic selling, as similar rumors in the past—such as unverified foundation wallet movements—have triggered temporary price dips. Over the long term, this incident underscores the importance of transparency from major crypto entities and suggests ETH’s stability relies on clear communication and network fundamentals rather than unsubstantiated address-level activity.