Ethereum Soars Past $3,000 as ETH Foundation Shifts 21,000 ETH – Bull Run Ignited?

Ethereum just smashed the $3,000 barrier—and the timing isn’t coincidental. Over the past two months, the Ethereum Foundation quietly moved 21,000 ETH, sparking whispers of institutional buildup or—let’s be real—another well-timed exit by the crypto elite.

The Whale Move Nobody’s Talking About

While retail traders celebrated the price surge, the Foundation’s wallet activity slipped under the radar. No press releases, no tweets—just cold, hard blockchain data. Classic crypto ops.

What’s Next?

With ETH now trading above a key psychological level, derivatives markets are heating up. Open interest in ETH futures jumped 15% in 24 hours—because nothing excites degenerates like round-number resistance turning to support.

Meanwhile, Bitcoin maximalists are muttering about ‘flippening’ again. As if.

One thing’s clear: When the Foundation moves, markets notice. Whether this pumps your bags or just their own remains to be seen—after all, in crypto, ‘decentralization’ often stops at the treasury wallet.

Ethereum Foundation continues to move ETH around

Earlier today, on-chain monitoring firm PeckShield reported that Ethereum Foundation has moved a total of 21,000 ETH or approximately $62.8 million from its main trove to an internal address in the last two months. That address then moved a third of that chunk to a different address, approximately moving 7,000 ETH or $20.9 million.

Afterwards, the third address swapped 1,210 ETH for USDC (USDC) worth $3.5 million within the past 24 hours.

Many traders reacted negatively to the transfer, accusing the ETH Foundation of dumping its own native token. However, there were also traders that came to EF’s defense by stating that it was part of the network’s new treasury policy.

“A lot of FUD going on right now about the Ethereum Foundation selling ETH, don’t believe it!” said a trader with the X handle @digitalartchick.

“The Ethereum Foundation uses it’s 200K ETH treasury to participate in DeFi and generate yield, they do not sell ETH anymore since the leadership change this year,” the user continued in the post.

Earlier in June, the Ethereum Foundation informed the public that it WOULD implement a new treasury strategy that would see the foundation executing more regular ETH sales to maintain a fiat reserve. It would also expand on its staking and DeFi deployments.