Vitalik Buterin has ramped up ETH sales again. On-chain data revealed that the Ethereum co-founder sold 1,869 ETH worth roughly $3.67 million over the past two days.<\/p>\n
During the same period, Ethereum\u2019s native token declined from about $1,980 to $1,850, a drop of over 5%.<\/p>\n
The transaction pattern is similar to a previous episode, when Buterin sold 6,958 ETH worth approximately $14.78 million, which coincided with a sharper 22% price slide from $2,360 to $1,825, according to an update shared<\/a> by blockchain analytics firm Lookonchain.<\/p>\n The latest sales came a day after Lookonchain flagged<\/a> Buterin\u2019s withdrawal of 3,500 ETH from Aave. ETH has been under pressure as the broader market downtrend continues since the crypto asset reached highs above $4,900 in August last year.<\/p>\n Sales linked to Buterin have exceeded 8,000 ETH since February 2, as per data. Earlier this year, Buterin said he would withdraw and liquidate 16,384 ETH and explained that the funds would be directed toward ecosystem development, open-source software efforts, as well as infrastructure support as the Ethereum Foundation enters what he called a phase of \u201cmild austerity.\u201d<\/p>\n Despite the recent disposals, on-chain intelligence from Arkham Intelligence disclosed that Buterin continues to hold more than 224,000 ETH, which is valued at around $429 million at current market prices. An earlier Arkham analysis of Buterin\u2019s wallet activity revealed<\/a> that Buterin\u2019s wealth remains overwhelmingly tied to ETH\u2019s price performance, with limited diversification into other assets.<\/p>\n In contrast to Buterin\u2019s recent ETH sales, Erik Voorhees is moving in the opposite direction. The ShapeShift founder has begun buying<\/a> back ETH after selling a large portion last year.<\/p>\n About a year ago, Voorhees sold 11,616 ETH for approximately $33.94 million at an average price of $2,922. More recently, he spent around $20.38 million in USDC to repurchase 9,911 ETH at an average price of $2,057.<\/p>\n Crypto market account Whale Factor warned<\/a> that Ether is approaching a \u201cmassive crossroads\u201d and pointed to a recent breakdown below a long-standing trend line, followed by a sharp 41% sell-off, which was characterized as severe and destabilizing for market structure.<\/p>\n According to Whale Factor, the altcoin is now trading near a critical support zone around $1,750. If this level fails to hold, the downside risk could accelerate and potentially lead to a deeper decline similar to conditions seen earlier in the year. ETH is also facing thin liquidity, meaning fewer buyers are present to absorb selling pressure, which could amplify price moves.<\/p>\n The post Vitalik Buterin Accelerates ETH Sales Amid Renewed Market Weakness<\/a> appeared first on CryptoPotato<\/a>.<\/p>","protected":false},"excerpt":{"rendered":" Vitalik Buterin has ramped up ETH sales again. On-chain data revealed that the Ethereum co-founder sold 1,869 ETH worth roughly $3.67 million over the past two days. During the same period, Ethereum\u2019s native token declined from about $1,980 to $1,850, a drop of over 5%. ETH Sales The transaction pattern is similar to a previous […]<\/p>\n","protected":false},"author":0,"featured_media":137416,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[4],"tags":[],"class_list":["post-137415","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-discovery"],"_links":{"self":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/137415"}],"collection":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=137415"}],"version-history":[{"count":0,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/posts\/137415\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=\/wp\/v2\/media\/137416"}],"wp:attachment":[{"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=137415"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=137415"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/mycryptomania.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=137415"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}Fragile Market Condition<\/h2>\n