Ethereum Foundation Finishes Planned $11M Sale — But Whales Keep Buying

Ethereum Foundation completed its planned sale of 5,000 Ether(ETH), converting the tokens into 11.11 million DAI(DAI) at an average price of $2,221.

ETH Sale and Whale Activity

The foundation had outlined the disposal after reaching its goal of 70,000 staked ETH. The sell-offs were executed in two batches, with the first completed on Apr. 9 and the second on Apr. 11, according to data from Lookonchain.

The average sale price came to $2,221, with all proceeds converted into DAI.

A wallet linked to Cumberland moved in the opposite direction, withdrawing roughly $60 million in ETH from exchanges including OKX and Binance. Spot Ethereum ETFs also closed the week with $187.07 million in net inflows.

Thursday brought $85.19 million and Friday added $65 million, while Monday's $120.24 million offset midweek losses — making it the first positive week since the one ending Mar. 13.

Also Read:Hong Kong Grants First Stablecoin Licenses To HSBC And Standard Chartered Venture

Analyst Price Outlook

ETH surged from $2,050 to over $2,250 amid a two-week truce between Iran and the U.S. Crypto analyst Ted Pillows said the asset could target $2,350-$2,400 after holding above $2,200, calling it "likely the last pump" before another correction.

Separately, analyst CW noted a pickup in ETH futures activity, with large traders "ending their rest and moving again." Long positions had increased after being "quiet since the 8th," suggesting renewed appetite for directional bets on Ethereum.

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