Ethereum Foundation Just Moved 1,000 ETH to Exchanges — Is Another Price Crash Coming?

Jakarta, Pintu News – The Ethereum Foundation was spotted sending 1,000 ETH to the Kraken exchange on April 22, most likely for sale. This move could potentially trigger a drop in ETH prices.

ETH Sales Record by Ethereum Foundation

In the past, EF has been criticized for selling ETH during sluggish market conditions, which adds selling pressure and negatively impacts Ethereum’s price performance.

The recent transfer of 1,000 ETH worth approximately $1.58 million to the exchange is expected to cause a drop in the ETH price in the near future.

Read also: Ethereum Soars 13% in a Day as Wall Street Whales Move Over 72,000 ETH — What Are They Planning?

According to research from CryptoRank, throughout 2024, the Ethereum Foundation has sold a total of 4,466 ETH worth $12.61 million, at an average price of around $2,823 per ETH. Such sales are often followed by a sharp drop in the price of ETH.

Meanwhile, a study from CoinGecko mentions that sell-offs from EF can cause a quick price reaction, but in the long run, “overall market forces” tend to dampen this volatility and maintain Ethereum’s price direction.

Ethereum Price Up 0.25% and Trading at $1,582?

As of April 22, Ethereum’s price has recorded a 0.25% increase, after previously experiencing a correction of 2.76% from its opening price.

As of April 22, 2025, ETH was trading at $1,582, but this ongoing recovery could be halted if the price of Bitcoin declines.

There are concerns that the current price increase is being driven by excessive leverage, as well as a sell-off of ETH by the Ethereum Foundation, which could lead to further pressure and price drops for the second-largest cryptocurrency.

Ethereum Technical Analysis: What Will Happen Next with ETH Price?

Overall, Ethereum’s daily chart shows a pattern of lower highs and lower lows, which is a clear indication of a downward trend.

However, the flat price movement for 10 consecutive days opens up the possibility of volatile movements that could reverse the trend.

Read also: Shiba Inu Set to Explode? SHIB Price Could Skyrocket 17x as Open Interest Surges 43%!

This narrowing of the price range suggests a suppression of volatility, and the potential for a breakout that could trigger a major spike. The $1,504 level is currently acting as important support, and as long as this level holds, there is a chance for a sustained rise.

However, ETH price predictions still need to be kept neutral, given the uncertain global macroeconomic and geopolitical conditions.

On the other hand, the sale of ETH by the Ethereum Foundation risks triggering a sharp correction that could bring the price back to test the support level at $1,504. If this support is broken, the price of Ethereum has the potential to fall deeper, to touch $1,200 or lower.

This bearish outlook will be further strengthened if Bitcoin price fails to sustain its rally towards $88,000, which some analysts see as a highly leveraged increase.

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*Disclaimer

This content aims to enrich readers’ information. Pintu collects this information from various relevant sources and is not influenced by outside parties. Note that an asset’s past performance does not determine its projected future performance. Crypto trading activities have high risk and volatility, always do your own research and use cold cash before investing. All activities of buying and selling bitcoin and other crypto asset investments are the responsibility of the reader.

Reference:

• Coingape. Ethereum Foundation Looks to Sell 1000 ETH, Will Price Crash Again? Accessed on April 23, 2025
• Coinspeaker. Ethereum Foundation Moves 1000 ETH to Kraken, Sparks Selloff Concern. Accessed on April 23, 2025