Ethereum Foundation Is Dumping ETH Again, Is This The Top?

The Ethereum Foundation has confirmed plans to convert 10,000 ETH, worth around $43 million, into fiat over the course of this month. The move, which was announced by the Ethereum Foundation’s official account on the social media platform X, comes less than two weeks after Ethereum set a new all-time high of $4,946 on August 24. Since reaching that peak, Ethereum has fallen by 11.6%, and the sale raises the question of whether the August high was the top for this cycle.

Ethereum Foundation Confirms 10,000 ETH Sale

According to the announcement, the Ethereum Foundation noted that it plans to convert 10,000 ETH into fiat through centralized exchanges over the course of several weeks this month. Based on the current price of Ethereum, the announcement means that the Ethereum Foundation is planning to dump $43.85 million worth of ETH this month. 

According to the Foundation, the proceeds will be used to fund research and development, community grants, and donations which are in line with its treasury management policy. However, the plan is to reduce price disruptions on exchanges while meeting its funding needs by spreading the sales across smaller orders.

This approach follows the treasury policy introduced in June 2025, which set limits on annual spending at 15% and established a multi-year fiat reserve buffer. The Ethereum Foundation has carried out several sales this year under the same framework. These include a $25 million sale in July and another sale worth $12.7 million. Notably, the Foundation also distributed over $32 million in grants during the first quarter of 2025.

Following the current planned sale, the Foundation will still hold more than 189,000 ETH, 21,000 AETHWETH, and 214 WETH, worth $922 million, according to data from Arkham Intelligence. This means that while the latest conversion is substantial, it represents only a portion of its total Ethereum reserves.

Has Ethereum Reached Its Cycle Top?

The timing of the sale coincides with Ethereum’s current price pullback from its all-time high of $4,946 to the $4,300 range. Following the announcement by the Ethereum Foundation, the price of Ethereum dropped by about 1%, and this selloff might contribute to selling pressure, and the most recent peak could represent this cycle’s highest point.

At the time of writing, Ethereum is trading at $4,386, and has recovered with an increase of 1.5% in the past 24 hours. Nonetheless, the leading altcoin is trading at a decline of 11.6% from its all-time high.

However, it is important to note that similar sell-offs by the Ethereum Foundation have occurred in past uptrends. For instance, the biggest sale of the Ethereum Foundation was a 100,000 ETH selloff in December 2020, but this was followed by a rally that drove the ETH price to all-time highs in 2021.

Whether the August peak becomes the cycle’s peak or a stepping stone to more peaks will depend on how Ethereum’s price responds to the sale in the coming weeks.