The Ethereum Foundation sold 200 ETH in two different transactions on Monday, which once again raised concerns among investors. According to Arkham Intelligence, the sale took place on September 23, and the Ethereum Foundation sold 200 ETH for 527,989 DAI.

ETH sales remain stable in September

The sale is the latest in a series of transactions over the past month. The Ethereum Foundation sold 1,150 ETH in September, equivalent to $2.8 million. The frequency of these sales has caused concern among market observers, especially as Ethereum faces bear market pressure. The wallet address "0xd77" associated with the foundation has been selling ETH over the past few weeks. The most recent transaction was made a few days ago.

This is consistent with data from CoinShares, which shows that Ethereum has seen significant outflows. In the past week, despite the overall good economic conditions, Ethereum has seen $28.5 million flow out of the market. Outflows for the month have now reached $145.7 million, indicating that institutional investors are losing confidence in the asset.

At press time, ETH is trading at $2,650, up 2.53% from its price the day before. On the day, the cryptocurrency has traded between $2,528 and $2,685, indicating some stability amid ongoing liquidations.

Futures and derivatives growth

However, Coinglass reported that Ethereum futures open interest rose 0.69% to $12.09 billion. In addition, derivatives market trading volume increased 77.12% to $28.37 billion, indicating that traders are both optimistic and cautious.

Ethereum has shown some resilience, with recent price gains and increased activity in derivatives markets. Market participants are closely watching how these developments will affect Ethereum’s performance in the coming weeks, as the future trajectory of Ethereum remains uncertain.