A wallet linked to the Ethereum Foundation (EF) has sold a significant amount of ETH, raising questions about market impact and fueling speculation. While the foundation emphasizes transparency and long-term ecosystem support, the sales have sparked debate among investors and traders. 0xF39d wallet recently moved over 6,194 ETH worth $28.36 million at an average price of $4,578 over three days. This follows a previous sale of 1,695 ETH for 7.72 million DAI at $4,556 just two hours prior. These sales come amid ETH’s ongoing rally and have fueled speculation that the foundation might be liquidating its holdings. The EF holds less than 0.3% of total ETH supply today, highlighting these transactions are independent activity, not a liquidation of the foundation’s holdings. However, many investors remain concerned about potential market volatility. The Ethereum Foundation has implemented reforms to enhance transparency and improve financial discipline, with a focus on increased DeFi participation for greater treasury growth and long-term Ethereum development. Hsiao-Wei Wang, co-executive director of the EF, clarified that they do not control this wallet and its sales are independent of the foundation’s treasury decisions. Despite these sales, the market continues to react, as large transactions from historically tied addresses often impact ETH price fluctuations. The Foundation’s focus on transparency and increased engagement in DeFi support has helped to build trust in the stability of the Ethereum ecosystem over the long-term.