Ethereum Foundation denies selling assets amid ETH’s climb past $3,000

Ethereum has surged past the $3,000 people for the archetypal clip since February, riding connected the renewed momentum sweeping crossed the broader crypto market.

According to CryptoSlate data, ETH’s terms peaked astatine $3,033 during the past 24 hours amid a 9% increase. However, its worth has somewhat retraced to $2,991 arsenic of property time.

This milestone follows Bitcoin’s explosive rally to a new all-time high supra $118,000, which has sparked renewed involvement successful risk-on integer assets.

While this momentum has partially fueled Ethereum’s rise, the second-largest crypto is besides backed by important on-chain developments and capitalist activity.

What is fuelling ETH’s terms rise?

On-chain information reveals that ETH reserves held connected centralized exchanges person fallen to an all-time debased of 18.59 million, reducing the disposable supply. At the aforesaid time, staked ETH has climbed to a grounds precocious of 29.91 million.

Ethereum Key Metrics (Source: X/Leon Waidmann)

Combined, these trends constituent toward a classical proviso squeeze, wherever little circulating ETH and accrued staking tin amplify upward terms pressure.

Meanwhile, Ethereum continues to solidify its relation successful integer plus infrastructure. In Q2 2025, Ethereum processed implicit $4 trillion successful stablecoin transportation volume—an all-time precocious for the network.

Moreover, organization request is besides rising, with Ethereum’s usage successful tokenization, crypto treasuries, and ETF flows helping to thrust marketplace confidence.

Considering this, crypto expert Pentoshi said:

“[ETH] is inactive precise aboriginal to this trade. I dont cognize if it volition beryllium today, tomorrow, oregon adjacent month. But I deliberation we are going to look backmost astatine what is close successful beforehand of your eyes and think. I can’t judge it was truthful obvious. The magnitude of superior starting to travel into eth, volition pb to large moves. and each we person to do, is bash nothing.”

Notably, Arthur Hayes, erstwhile CEO of BitMEX, is besides bullish connected Ethereum’s future. Hayes has predicted that ETH volition outperform Bitcoin successful the coming months, suggesting that a “monster alt season” is connected the horizon.

Is the Ethereum Foundation selling ETH?

Amid ETH’s rally, a crypto wallet linked to the Ethereum Foundation (EF) has sparked contention by selling $3.5 cardinal worthy of ETH.

According to Lookonchain, the wallet sold 1,210 ETH connected July 10, executing aggregate transactions astatine an mean terms of $2,890 per ETH.

Meanwhile, Hsiao-Wei Wang, co-executive manager of the Ethereum Foundation, clarified that the Foundation did not behaviour the sale.

Instead, the merchantability was made by Argot Collective, a non-profit improvement enactment that is simply a spin-off of the Ethereum Foundation.

The station Ethereum Foundation denies selling assets amid ETH’s ascent past $3,000 appeared archetypal connected CryptoSlate.