Ethereum Foundation dumps 10K ETH as price struggles at $4,300

The Ethereum Foundation is once again preparing to part with a portion of its holdings. A planned sale of 10,000 ETH this month has drawn attention from across the crypto community, given its size and timing.

The Ethereum Foundation announced on X on September 2 that it will sell 10,000 ETH ( ETH ) this month, worth about $43 million at current prices. In the post, the Foundation said the proceeds will be used for research and development, community grants, and charitable donations, adding that the sale will take place over the coming weeks through centralized exchanges.

The sale is part of a treasury framework the Foundation introduced in June to guide how it manages its reserves. The policy sets annual spending limits and requires the Foundation to keep a multi-year buffer of funds.

It also outlines that ETH will be converted into fiat in scheduled tranches every three months, helping the organization plan its finances more predictably while still supporting ecosystem growth.

The planned dump on a broader trend of ETH sales already seen this year, including a 10,000 ETH over-the-counter transaction with SharpLink Gaming in July. Large-scale sales like these, particularly amid price weakness, have often drawn community scrutiny and debate over timing and market impact.

Amid ETH’s current struggles near $4,300, these concerns have resurfaced . However, the Foundation made it clear that the sales will be executed in multiple smaller trades to reduce market impact and avoid exerting downward pressure on ETH prices. 

ETH price struggles amid pullback

ETH is down about 1.4 % today, trading near $4,316 at press time. This extends its week-long downward trend, bringing its decline over the past seven days to 6.2% according to price data from crypto.news. 

Despite recent weakness, overall momentum remains strong. ETH is still up over 22% on the month, partly driven by a late-August rally that saw it touch fresh price highs above $4,900 after several months of underperformance.

Institutional demand for ETH remains strong, with firms like BitMine Immersion and SharpLink Gaming steadily accumulating billions of dollars’ worth of Ether week after week.

At the same time, Ethereum whales are scooping up on the dip. On-chain data from Santiment shows 260,000 ETH was accumulated in just 24 hours by addresses holding between 10,000 and 100,000 ETH, signaling continued confidence in ETH’s long-term prospects.

These trends suggest that the planned 10,000 ETH sale by the Foundation may not significantly affect prices. If institutional and whale buying persists, ETH could be positioned for a potential recovery.