Endaoment’s $12.47M Ethereum sale: Should investors worry?

• Endaoment sold 3690 Ethereum tokens worth $12.47 million.
• ETH continues to consolidate while market indicators suggest a potential breakout.

Since hitting $4,109, two weeks ago, Ethereum [ETH] has struggled to maintain an uptrend. Over this period, the altcoin has traded within a consolidation range.

These market conditions have been largely associated with increased selling pressure from various entities and individuals.

Endaoment sells 3,690 ETH for $12.47M

According to SpotOnChain, Ethereum’s large holders have been actively selling. One of the latest entities to sell its holdings is Endaoment a charity fund on Ethereum.

Based on Spotonchain’s observation, Endaoment has sold 3,690 ETH tokens worth $12.47 million. This is the first transaction from this entity in 10 months and its largest ever.

Notably, a significant sale by a large holder like Endaoment may raise concerns about selling pressure and potentially bearish sentiment in the short term. However, the fact that the sale is for a charitable cause might mitigate negative perceptions, as it’s not speculative selling from a trader.

Impact on ETH price charts

Despite increased selling from large holders, Ethereum has continued to hold strong within the consolidation range between $3,500 and $3,300.

At the time of writing, ETH was trading at $3,429, marking a moderate increase of 0.21% on daily charts and an extension of this bullish trend by 2.45% on weekly charts.

These gains indicate that Ethereum bulls are attempting to retake the market and push prices higher, while bears are still trying to lower prices.

According to AMBCrypto’s analysis, the Ethereum market remains optimistic, and investors are still hoping for a price recovery.

This market sentiment is evidenced by a rising RSI and MACD. The Relative Strength Index (RSI) made a bullish crossover 2 days ago, signaling a surge in buying pressure as buyers start to dominate. The RSI has risen to 47 at press time, up from 42.

Similarly, the MACD line is nearing a bullish crossover, further confirming the strengthening momentum to the upside.

Looking further, Ethereum’s Exchange Supply Ratio has been declining over the past month. This indicates that ETH outflow from exchanges has outweighed inflow.

Thus reflecting optimism as more investors are accumulating than those selling.

Finally, Ethereum’s Bitmex Basis Ratio has remained positive since the start of the year.

A positive basis ratio suggests that traders in the futures market are willing to pay a premium for their contracts. This reflects market optimism as they expect prices to increase.

What next for Ethereum?

In conclusion, Ethereum seems stuck within a consolidation range as bulls and bears fight for market control. Therefore, while sellers like Endaoment are active, buyers too are actively accumulating.

Read Ethereum’s [ETH] Price Prediction 2025–2026

If these market conditions continue, Ethereum will continue trading between $3300 and $3500.

However, if bulls regain control, ETH will break out of $3500 and find the next significant resistance around $3700. Consequently, if sellers dominate, the altcoin will drop to $3305.