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Is Ethereum-Related Wallet preparing for a massive sell-off?

2026-10-12 16:42:19
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与以太坊基金会关联的钱包向Kraken转入4,393枚ETH,引发市场抛售疑虑

据报道,两个历史上与以太坊(@ethereum)基金会有关联的钱包已向Kraken交易所转入4,393枚ETH(价值约1,113万美元)。这一资金动向重新引发了市场的一个熟悉问题:基金会是否正准备出售手中的资产?

此次转账由区块链分析师EmberCN率先发现。目前,以太坊基金会和Kraken交易所均未对此事发表公开声明。需要明确的是,将资产存入交易所并不等同于立即出售,仅凭链上数据无法确定这些ETH是否已经或将会被卖出。

长达十年的向Kraken转账模式

据EmberCN分析,进行最新转账的钱包在十年前从以太坊基金会的一个钱包接收了59,751枚ETH。此后,该钱包曾分批向Kraken转入总计49,751枚ETH,平均价格约为658美元。这意味着初始分配中约有10,000枚ETH尚未转入交易所,尽管现有的链上数据并未明确指出这部分剩余资产目前的具体去向。

根据crypto.news的数据,以太坊当前交易价格接近2,555美元。Crypto Briefing报道指出,除了此次转账外,类似来自基金会关联地址流向Kraken的资金流动也曾在2025年末、2026年5月以及2026年8月出现过。

Analysts called for caution. BeInCrypto pointed out that simply depositing assets on an exchange does not prove a sale, but this transfer is a continuation of a series of similar operations over the past decade and has increased market attention.

Ethereum Foundation's Treasury Policy Statement

The Ethereum Foundation has been open to funding its work by selling ETH. In accordance with its treasury policy released in June 2025, the foundation will regularly calculate the deviation between fiat tender assets in the treasury and its operating buffer target and decide how much ETH it will sell over the next three months, if necessary. The policy adds that these sales will typically be accomplished through a fiat withdrawal channel or on-chain conversion into assets denominated in fiat currency.

In addition, the policy also outlines a path to reduce spending. The foundation plans to reduce annual operating expenses (OpEx) roughly linearly over the next five years, eventually reaching a long-term base level of 5%.

Past sales have been publicly announced. For example, in September 2025, the foundation announced plans to convert 10,000 ETH pieces through a centralized exchange in the next few weeks. Recently, the foundation also converted 5,000 ETH into stablecoins through CoW DAO's TWAP function.

Currently, the transfer of these 4,393 ETH pieces is still an unconfirmed signal. Traders may pay close attention to any official statements from the foundation, or further on-chain activity in the same wallet, to determine whether funds are being sold.

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