Recent Sales from Foundation-Linked Addresses

Blockchain analytics firms tracked multiple transactions from an address linked to the Ethereum Foundation on November 13. The wallet sold 2,000 ETH through CoW Swap, receiving about 3.87 million USDS at an average price near 1,935. Earlier activity on the same address included two 1,000 ETH dispositions earlier in the week and a larger swap of 2,785 ETH on October 26.

Cumulative sales since October 26 totaled 7,785 ETH, valued at 16.35 million USD with an average of 2,100 per token. The wallet retains 10,000 ETH worth roughly 19.03 million USD at prevailing levels. Analysts from Onchain Lens and Lookonchain described the address as tied to the Foundation, marking the fourth such transaction since mid-October.

Market Reaction and Price Movement

Ethereum traded near 1,951, down 4.7 percent over 24 hours. The decline continued amid broader selling pressure, with the cryptocurrency slipping below 2,000 for the first time in several sessions. Liquidations added to the downward momentum, with approximately 288 million USD in ETH futures positions closed across major exchanges.

US spot Ethereum ETFs saw net outflows of 695.9 million USD in November so far, far exceeding the Foundation-related sales. ETF assets fell from 13.22 billion USD at the end of October to 11.65 billion USD by November 11. Analysts noted that while Foundation wallet activity drew attention, the scale of ETF redemptions represented the dominant source of selling pressure.

Other Large ETH Trades and Whale Activity

A separate whale address withdrew 8,876 ETH from Aave and swapped 16,700 ETH via CoW Swap for 30.94 million USDT, realizing a 1.61 million USD loss on the exchange. The same investor had acquired 8,631 ETH approximately a month earlier at an average price of 2,743. The transaction reflected a 1.61 million USD hit on the recent swap.

Another wallet linked to a suspected hacker entity received 1,500 ETH from Tornado Cash and sold 1,499.5 ETH near 1,998, realizing about 3 million USD. A distinct large holder purchased 10,380 ETH worth 19.91 million, despite holding 11.3 million USD in unrealized losses on the position. One wallet withdrew 34,601 ETH worth 73.75 million from Binance on November 9, marking a prolonged inactivity period.

Liquidations and Broader Market Pressures

Liquidations intensified the price drop, with four whales each losing more than 10 million USD across BTC, ETH, and SOL positions, totaling 143.89 million USD. Another trader with 140 million USD in combined BTC and ETH longs saw a 17.69 million USD loss over two days. Nearly 90 percent of the 288 million USD in ETH liquidations came from long positions.

The Ethereum Foundation maintains a treasury policy aimed at preserving reserves for 2.5 years of operating expenses. Sales occur periodically to replenish funds, though the specific purpose of the latest transfers has not been disclosed. The Foundation has previously emphasized routine management of its holdings rather than market-timing strategies.