- The Ethereum Foundation’s transfer of 1,000 ETH to Kraken has raised concerns about increased sell pressure amid broader whale activity and market uncertainty.
- With Ethereum trading near key support levels and volatility compressed, traders remain cautious as further downside or a breakout looms.
The Ethereum Foundation has ignited a wave of speculation after moving 1,000 ETH—worth approximately $1.58 million—to the crypto exchange Kraken. This transaction, which took place on April 22, 2025, has led to renewed fears of rising sell pressure just as Ethereum struggles to hold above key support levels.
Whale Movements Add Fuel to the Fire
Blockchain tracking platform Lookonchain flagged the transfer, linking the wallet (0xddB…121A) directly to the Ethereum Foundation. This isn’t just any wallet—it received over 84,000 ETH from the Foundation about a decade ago when the token was valued at just $1.20. Today, that ETH is worth more than $134 million.
This transfer isn’t an isolated event. The same wallet recently sent 5,000 ETH to trading firm Cumberland DRW in two separate batches—one valued at $7.31 million and another at $8.92 million. While not outright sales, these moves hint at preparations for liquidity—possibly in anticipation of further market downside.
A wallet linked to the Ethereum Foundation deposited 1,000 $ETH($1.58M) to #Kraken an hour ago.
This wallet received 84,513 $ETH($134M now) from the Ethereum Foundation 10 years ago, when the price of $ETH was ~$1.2.https://t.co/ivl9tIpTzs pic.twitter.com/V0JSOcF2a9
— Lookonchain (@lookonchain) April 22, 2025
The unease is amplified by other recent whale activity. A long-dormant Ethereum holder dumped over 10,700 ETH (roughly $16.86 million) after two years of silence. Another wallet associated with World Liberty Financial sold 5,471 ETH for $8.01 million. Meanwhile, an address inactive for seven years transferred 2,000 ETH (worth $3.11 million) to Kraken.
ETH Price Wavers as Traders Eye Support Levels
At the time of writing, Ethereum is trading around $1,616.98, down 1.61% over the past 24 hours. Trading volume has surged by over 33% to $15.85 billion—an indication that traders may be reacting to the recent flurry of large transactions. Ethereum’s chart remains in a downtrend, with lower highs and lows forming a concerning pattern.
For now, ETH appears trapped in a sideways range, which analysts interpret as compressed volatility. The next big move could be sharp—potentially up if the $1,504 support level holds, or down if the wave of selling intensifies.
While Ethereum co-founder Vitalik Buterin’s newly proposed privacy roadmap has caught the community’s attention, it hasn’t been enough to lift investor sentiment. Until there’s clarity on the Foundation’s intentions and whale selling cools down, ETH’s price outlook remains uncertain.
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