PANews reported on April 26 that on-chain analytics platform Arkham released monitoring data on the X platform showing that the Ethereum Foundation has unstaking approximately $48.9 million worth of ETH. On-chain operations show that the Ethereum Foundation has deposited its WSTETH holdings into Lido's unstETH unstaking contract. Once the unlocking process is complete, the Foundation will receive the corresponding amount of ETH in spot trading.

The current focus of the crypto market is on the future movements of this asset, with particular attention on whether the Ethereum Foundation will sell off the unlocked ETH. Previously, the Ethereum Foundation has sold ETH multiple times for operational fund management, actions that have consistently fueled market concerns about potential selling pressure on ETH.