Ethereum price moved slightly early Thursday as fresh scrutiny hit with the Ethereum Foundation (EF)’s move to convert a significant portion of its treasury from ETH into stablecoins.
While the announcement coincided with the volatile price action that followed the US-Iran ceasefire, the top altcoin’s value pared some of the gains to around the $2,180 level as on-chain data showed EF’s treasury had sold 3,750 ETH for over $8.3 million.
Ethereum Foundation sold $8.3 million ETH
On Wednesday, it was revealed that the Ethereum Foundation had initiated the conversion of 5,000 ETH into stablecoins.
The strategy has already seen the non-profit supporting Ethereum offload 3,750 ETH worth roughly $8.3 million, with these sold at an average price near $2,214 per ETH.
This step is part of EF’s broader treasury management approach to secure funding for research and development, grants, and donations while reducing exposure to crypto market volatility.
By executing the sales gradually through a decentralized trading infrastructure, EF aims to limit abrupt sell pressure and avoid distorting spot order books on major exchanges.
On the other hand, the resulting stablecoin reserves give the organization more predictability in terms of budgeting capacity.
Notably, it makes it easier to plan multi‑year initiatives regardless of short‑term swings in the ETH price.
Ethereum price forecast
Historically, EF has periodically trimmed or rebalanced its ETH holdings when prices are elevated or when its non‑ETH reserves fall below internal comfort levels, so this latest round appears consistent with past practice rather than a sudden shift in conviction.
Even so, any large sale by such a central ecosystem actor tends to be interpreted cautiously by traders, as it visibly reduces one prominent holder’s direct exposure to ETH.
The market has Ethereum price poised above $2,180, and an uptick could see bulls target the multi-week highs above $2,270 that aligned with news of a US-Iran ceasefire.
As such, bulls have the potential to extend the upswing off the current support level. Buyers will eye the $2,250-$2,300 band as the next demand reload zone.
The advance toward $2,300, however, means Ethereum came close to a well‑watched resistance region near the 100-day EMA.
Momentum indicators suggest bulls have the advantage, but there is a likelihood of further consolidation unless we see a clean breakout above the moving average.
More broadly, ETH continues to trade in a range defined by supportive fundamentals, including network upgrades, increased DeFi activity, and institutional interest.
As long as the market can absorb treasury‑driven flows and macro/geopolitical shocks, the current consolidation around $2,000-$2,300 may be setting up the next decisive move once new macro or on‑chain catalysts emerge.
On the flipside, if ETH retraces below support at $2,000, fresh weakness could bring $1,925-$1,800 into play.
This latter range marks the lower edge of its recent trading range.
The post Ethereum falls after rally as EF sells $8.3M in ETH holdings appeared first on Invezz
