Ethereum Foundation-linked wallets transfer $11M to Kraken

Blockchain analyst EmberCN identified the addresses as part of a group that received 59,751 ETH from a foundation-associated wallet a decade ago. Over the years, these addresses have funneled 49,751 ETH to Kraken at an average historical price of $658. Despite the pattern, experts note that a historical connection does not confirm current ownership or authorization by the foundation, nor does it guarantee an immediate sale.

Ethereum traded near $2,555 on the day of the transfer, showing a modest 2% daily gain despite a 6.85% decline over the previous week. Technical indicators remain cautious, with the asset trading below its nine-day simple moving average of $2,585 and an RSI of 47.59, signaling neutral to weak momentum. While the foundation maintains a formal treasury policy allowing for periodic ETH sales to fund research and grants, recent transactions—such as the April 2026 plan to sell 5,000 ETH—have typically been disclosed or executed through specific strategies like time-weighted averages. No such announcement accompanied the October 12 activity.