Ethereum Foundation sells more ETH as price falls below $2,000: What’s next?

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Ethereum’s price has fallen below $2,000 as a wallet identified by blockchain analysts as linked to the Ethereum Foundation sold another 2,000 ETH worth approximately $3.87 million, while other large holders made opposing trades.

Summary

Ethereum price fell below $2,000, trading near $1,938 as the cryptocurrency lost approximately 5.3% in 24 hours.
Lookonchain identified an Ethereum Foundation-linked wallet selling another 2,000 ETH worth approximately $3.87 million.
Onchain Lens reported that a whale swapped 16,700 ETH and received $30.94 million in USDT.
Another Ethereum whale bought 10,380 ETH worth $19.91 million despite holding $11.3 million in unrealized losses.
CoinGlass recorded approximately $288 million in ETH liquidations, with long positions accounting for nearly 90%.

crypto.news price data showed ETH trading near $1,940 at the time of reporting, down approximately 5% in 24 hours. The cryptocurrency had reached $2,050 during the preceding day before touching roughly $1,905. Bitcoin was trading below $69,000 as the cryptocurrency market declined, leaving ETH down nearly 13% over seven days.

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Ethereum price drops below $2,000 as liquidations mount

The latest decline followed a period in which Ethereum repeatedly struggled to hold the $2,000 level. On November 12, ETH briefly slipped below $2,000, reaching $1,980 before recovering. Friday’s trading took the price below that level again, with the token moving through the $1,900s.

CoinGlass recorded approximately $288 million in Ethereum futures liquidations over 24 hours, including around $259 million in long positions. Nearly 90% of the liquidated value came from traders betting on higher prices. Liquidations occur when exchanges close leveraged positions after traders can no longer meet margin requirements.

US spot Ethereum exchange-traded funds have experienced withdrawals as well. Farside Investors recorded $144.8 million in net outflows on November 11, including $129.8 million from BlackRock’s ETHA. Preliminary November 12 data showed another $8 million leaving the funds.

The Bureau of Labor Statistics reported a 0.4% increase in US consumer prices for October, in figures released November 10. Prices excluding food and energy rose 0.3% over the month, keeping inflation and Federal Reserve interest-rate expectations in focus.

Ethereum Foundation-linked wallet sells another 2,000 ETH

Blockchain tracker Lookonchain identified an address beginning 0x5CBC as the seller of another 2,000 ETH, valued at approximately $3.87 million. Onchain Lens separately reported that the wallet exchanged the ETH for approximately 3.87 million USDS through CoWSwap.

The #EthereumFoundation-linked wallet (0x5CBC) just dumped another 2,000 $ETH($3.87M)!

Every time #EthereumFoundation-linked wallets dump $ETH, the price drops.

Oct 12: $ETH down 9%.
Oct 26: $ETH down 7.7%.
Nov 10: $ETH down 10.4%.

Today marks the 4th sale. How much further… pic.twitter.com/NICa6RGPdT
— Lookonchain (@lookonchain) November 13, 2026

Both analytics firms described the address as connected to the Ethereum Foundation. Lookonchain called it the fourth sale it had tracked involving Foundation-linked addresses during the recent decline, citing activity on October 12, October 26 and November 10.

The latest transaction followed other sales from the same wallet. An earlier report on the transfers documented a 1,000 ETH sale worth $2.03 million on November 11, following another 1,000 ETH disposal the previous day. Onchain Lens puts the wallet’s total sales over those three days at 4,000 ETH.

The November 10 sale occurred after a two-week pause in the wallet’s activity. Before those transactions, the same address had sold 2,785 ETH worth approximately $6.42 million on October 26, according to the previous blockchain tracking data.

Ethereum whale swaps 16,700 ETH as another wallet sells

A separate large investor made a much bigger disposal during the downturn. Onchain Lens reported that the address withdrew approximately 8,876 ETH from Aave and swapped 16,700 ETH through CoWSwap, receiving $30.94 million in USDT.

WHALE DUMPS $32.55M IN ETH, RECEIVES JUST $30.94M

A whale withdrew ~8,876 $ETH from Aave and swapped 16.7K ETH for USDT via CoWSwap, taking a ~$1.61M hit on the swap.

A month ago, the same whale bought 8,631 ETH (~$23.67M) at an average price of $2,743. pic.twitter.com/Nj4w6dIGaq
— Onchain Lens (@OnchainLens) November 13, 2026

The tracker valued the ETH involved at approximately $32.55 million before the exchange, putting the difference between that valuation and the proceeds at around $1.61 million. It said the same investor purchased 8,631 ETH for approximately $23.67 million a month before, at an average price of $2,743 per token.

Another wallet that received 1,500 ETH from Tornado Cash subsequently sold 1,499.5 ETH for roughly $3 million, Lookonchain reported. The transaction occurred at an average price of approximately $1,998 per ETH.

On November 12, a separate Ethereum holder reportedly sold 6,532 ETH worth approximately $13.62 million. Lookonchain estimated that the investor incurred a $3.1 million loss on ETH purchased about a month before.

Ethereum whales continue buying despite unrealized losses

Not all large holders were selling. Lookonchain tracked a wallet beginning 0x4cee purchasing 10,380 ETH for approximately $19.91 million as prices declined. The same address had previously earned about $3.66 million from trading 10,500 ETH two months before, according to the analytics firm.

Following the latest purchase, Lookonchain estimated that the wallet held 25,498 ETH worth $49.44 million, acquired at an average cost of $2,382 per token. Its unrealized loss stood at approximately $11.3 million based on the market valuation at the time of the update.

Large ETH purchases had already appeared during the week. On November 9, several whale transactions included a $21.55 million acquisition financed through an Aave loan and another purchase worth $19.7 million.

Separately, a wallet that had remained inactive for more than two years withdrew 34,601 ETH worth approximately $73.75 million from Binance on November 9, according to Lookonchain. The transaction involved moving existing tokens off the exchange, not a confirmed new purchase.

Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.

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