Ethereum Price Faces $2,200 Risk After Foundation-Linked ETH Sale

Key Insights Ethereum price traded near $2,312 after a Foundation-linked wallet exchanged 2,785 ETH worth $6.42 million. Lookonchain reported a 9% ETH decline since the previous suspected Foundation-linked transaction. An early holder deposited 1,500 ETH to exchanges, while Ethereum ETFs recorded $484.6 million in outflows. Ethereum price tested $2,300 after a wallet linked to the Ethereum Foundation exchanged 2,785 ETH. Onchain Lens identified the Oct. 26 transaction, valued at approximately $6.42 million. The transaction coincided with continued weakness in U.S. spot Ethereum exchange-traded funds (ETFs). However, blockchain activity alone does not establish that the swap caused ETH’s decline.