Blockchain analytics from Arkham Intelligence revealed that the Ethereum Foundation withdrew 17,035 ETH, valued at approximately $49 million, during the past weekend. The operation involved converting wrapped staked ETH (wstETH) through Lido's unstETH smart contract mechanism, processing approximately 811 wstETH per transaction batch.
Ethereum's stagnant price highlights the impact of macroeconomic factors on crypto markets, suggesting limited short-term growth potential. Ethereum price stagnant at $2,328 since 2021 amid macroeconomic pressures.
Ethereum's price has experienced a significant downturn, shedding approximately half its value from the October 2025 peak near $4,700 to trade around $2,300 today. However, beneath the surface volatility, blockchain metrics reveal a different narrative—one of strategic accumulation.
Ethereum price started a fresh increase and remained stable above $2,365. ETH is now consolidating and might aim for more gains if it clears $2,400.
Ethereum (ETH) recently attempted to break above the key $3,000 resistance level, but the move failed to gain traction, effectively invalidating the breakout. Despite this setback, ETH has managed to stabilize within the $2,300$2,400 range, forming a short-term bullish structure after recovering steadily from levels below $2,000 earlier this year.
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Ethereum Foundation unstaked 17,035 ETH worth $40M after nearing its 70K ETH staking target, raising market questions.
The foundation used 271 batched transactions to withdraw 811 wstETH, with ETH price holding at $2,319.
Aave, Kelp and LayerZero asked Arbitrum DAO to release $71M in frozen ETH for rsETH recovery after the Kelp exploit.
Ethereum price holds near $2300 as resistance at $2400 caps upside, while $2200 support remains key for short term direction.