On July 10, 2025, a wallet linked to the Ethereum Foundation sold 1,206.7 ETH for $3.61 million in USDC via Uniswap V4 at ~$2,890 per ETH, per CoinoMedia and Lookonchain. The sale, part of a 21,000 ETH consolidation to a multisig wallet (0xc061) over two months, fueled speculation. The Foundation clarified it was executed by Argot Collective, a spin-off nonprofit, not the Foundation directly, per CCN.com. Ethereum’s price hit $3,000 amid ETF inflows, but the sale raised bearish concerns, per ainvest.com.
The Foundation’s 200,000 ETH treasury now focuses on DeFi yield, not direct sales, per Hsiao-Wei Wang, per cryptorank.io. Meanwhile, a 10,000 ETH ($25.7M) OTC sale to SharpLink Gaming, a firm buying “tens of millions” in ETH daily, signals corporate adoption, per dlnews.com. X posts note the sale’s timing before ETH’s $3K breakout, while others defend it as operational funding. Whales accumulated $358M in ETH, boosting confidence, per coinpedia.org.
X posts show mixed reactions: some fear price dumps, others see strategic treasury moves. ETH’s $2,750 support and $3,200 resistance are key, with a potential $4K run if ETF momentum holds, per dailycoin.com. Regulatory scrutiny or failed resistance could trigger corrections. The Foundation’s transparency mitigates some concerns, but volatility risks persist.
The $3.6M sale and SharpLink’s $25.7M buy highlight ETH’s dual narrative of institutional adoption and sell-off fears. Traders should monitor ETF flows and price action for breakout signals.
