The Ethereum Foundation sells ETH at a high point, attracting attention! Cashing out $12.8 million in 24 hours, can institutional demand support a surge to a new historical high?

As the price of Ethereum (ETH) strongly rebounds and approaches historical highs, on-chain data shows that the Ethereum Foundation has entered a selling mode. In the past 24 hours, its associated wallets have sold a total of 1695 ETH (cashing out 7.7 million DAI) and 1100 ETH (cashing out 5.06 million DAI), amounting to approximately 12.8 million dollars in total. This reduction in holdings coincides with ETH breaking through 4600 dollars, reaching a new high since November 2021. The foundation explained that the sales are intended to cover operational costs and developer funding, but the timing of the actions has raised concerns in the community about price impact. Meanwhile, the spot Ethereum ETF has set a single-day inflow record of 1.02 billion dollars, indicating that institutional demand may support ETH's push to the historical peak of 4800 dollars.

The foundation cashed out 12.8 million USD in 24 hours, attracting market attention with its timing Against the backdrop of Ethereum (ETH) prices soaring to multi-year highs, the Ethereum Foundation is continuously dumping some of its held ETH.

On-chain data shows that the foundation's wallet has experienced multiple large transfers in the past 24 hours. Lookonchain first detected a sell transaction of 1695 ETH on August 13, exchanging for 7.7 million DAI. Following that, there was another sale of 1100 ETH, exchanging for 5.06 million DAI, totaling approximately 12.8 million USD.

These assets were initially transferred from the foundation's associated Wallet "EF 1" in 2017. This sell-off coincided with a rapid rise in ETH price, and ETH had reached a multi-month high at the time the trade was executed.

ETH surges 8% aiming for historical peak, institutional buying becomes core driving force As of the time of writing, the trading price of Ethereum is close to $4635, with an increase of 8.3% in the past 24 hours, continuing a month-long upward trend, completely reversing the previous weak performance.

The second largest cryptocurrency by market capitalization reached a daily high of $4683, setting a record since November 2021. This round of ETH price rebound is driven by strong institutional demand fueled by exchange-traded funds (ETFs) and enterprise-level allocations.

Recently, the Spot Ethereum ETF set a historical record with a net inflow of 1.02 billion dollars in a single day, achieving strong capital inflows for five consecutive days. Over the past few months, the allocation of corporate funds to ETH has also significantly increased, with total holdings by various entities exceeding 14 billion dollars.

The aforementioned capital flow overlay effect is driving market expectations that ETH will retest the historical peak of $4800 (ATH), with many investors and analysts predicting that the price is likely to break through this threshold.

The foundation's dumping is not an isolated event; the demand for ecological operations is the official explanation The recent asset dumping by the Ethereum Foundation is not an isolated incident; it is consistent with its past selling records.

The massive asset transfers by the foundation often raise market vigilance, especially when it involves large-scale sales like those in recent times. The last similar transaction occurred in January this year, which drew strong criticism from the community due to its impact on prices.

However, the foundation team insists that this is not simply a profit-taking move, but rather part of a predetermined plan to maintain the operation of the ecosystem. Foundation Executive Director Aya Miyaguchi previously pointed out that the proceeds from the sell-off are mainly used for operational costs, developer grants, and personnel salaries, among other expenses, which often forces the foundation to convert part of its holdings into stablecoins.

Although the strong price performance of ETH has temporarily weakened the market's concerns about the impact of dumping, a continued trend of reduction may once again trigger disputes over the timing and strategy of the foundation's operations.

Conclusion: The Ethereum Foundation's decision to sell at a high point again highlights the sensitivity of the project team's position management. Although it claims that the cash-out is intended to support ecological development, the operation during price shocks at historical key resistance levels inevitably raises market concerns about short-term selling pressure. The current market focus has shifted to the game between institutional power (ETF inflows + corporate allocations) and the Foundation's selling, which will determine whether ETH can effectively break through the historical ceiling of $4800. As Vitalik Buterin once said: "The Foundation's assets are the fuel for driving ecological evolution, but the timing of use must be extremely cautious."