Ethereum Foundation-Linked Wallet Sells $5M in ETH at $4,602

Ethereum Foundation-linked wallet sold 1,100 ETH for $5.06M after earlier 1,695 ETH sale for 7.72M DAI at $4,556.

ETH trades at $4,655 with 99% of holders in profit and large holders controlling 55% of supply.

Exchange flows show July to August outflows exceeding $100M and inflows over $200M, aligning with ETH’s August price surge.

A wallet connected to the Ethereum Foundation had another large sale of Ether, moving 1,100 ETH valued at approximately $5.06 million. Data shows the assets sold at an average price of $4,602.1

This sale follows an earlier transaction involving the same wallet, which sold 1,695 ETH for 7.72 million DAI at $4,556. The address initially received 20,756 ETH from the Ethereum Foundation’s “EF 1” wallet in 2017.

Series of Large ETH Sales Recorded

The selling activity has been high, with total ETH sales reaching 2,794.87 coins worth roughly $12.78 million. The average price for these sales is at $4,574.4. According to Lookonchain, the selling address still holds 1,500 ETH. Historical blockchain records trace the address back 10 years, when ETH traded near $0.875.

Market Data Shows Strong Holder Positions

According to IntoTheBlock, at press time, Ethereum was trading at $4,655, a 5.12% daily gain. Ethereum market cap is at $534.65 billion. 99% of holders were in profit, with 1% at break even and none at a loss. Large holders controlled 55% of the total supply. Ethereum price correlation with Bitcoin is at 0.39.

Ethereum holder chart, Source: IntoTheBlock

Notably, 75% of holders had held their ETH for more than a year, 22% for between one and twelve months, and 3% for less than one month. Large transaction volume reached $112.82 billion over the last week, while netflows showed a negative $296.84 million in the same period.

Active Market Movements

Exchange flows shows consistent ETH outflows during late July and early August. These outflows often exceeded $100 million, occurring around July 24, August 1, and August 10. Occasional sharp inflows above $200 million were also recorded, including on July 20 and August 8.

ETH Spot Inflow/Outflow chart, Source: Coinglass

Price movements during this period show ETH starting below $3,700 in late July and dipping toward $3,120 in early August. A strong upward trend began on August 8, with prices up from around $3,900 to $4,650 by August 12. This period saw a mix of inflow spikes and notable outflows, suggesting large holders were actively repositioning their holdings.

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