‘Incredibly Frustrating:’ Ethereum Foundation’s Latest ETH Sale Draws Criticism

"I love Ethereum. I love the chain. But why are we constantly selling the asset instead of doing more to increase its value," one analyst asked. The leading altcoin has been under pressure lately, and reports that the Ethereum Foundation has started dumping tokens again could further weaken its position. In fact, those revelations appear to have weighed on investor sentiment, pushing ETH’s Fear and Greed Index deeper into fear territory. So Much Selling Earlier today (October 26), Lookonchain disclosed that a wallet linked to the Ethereum Foundation (a non-profit organization that supports the development and growth of the Ethereum ecosystem) offloaded 2,785 units for around $6.42 million. The entity also noted that the last suspected sale of that type was two weeks ago and was followed by a 9% price decline. At the time, two wallets tied to the Ethereum Foundation deposited $11.13 million worth of ETH into Kraken, a move often seen as a pre-sale step. Shortly after, Lookonchain said another Ethereum OG dumped 1,500 units (equaling approximately $3.46 million) after nine years of inactivity. The investor initially bought 100,000 ETH for only $31,000 through the 2015 ICO and still h...