- Vitalik Buterin has sold over 11,400 ETH worth roughly $23 million since Feb. 2
- About 70% of his planned 16,384 ETH liquidation has now been completed.
- ETH faces resistance at $2,000, with key support holding near the $1,850 level.
Ethereum co-founder Vitalik Buterin is once again in the headlines after on-chain data revealed a steady wave of ETH sales over the past month. While the broader crypto market has been volatile, Buterin’s transactions have added another layer of attention around Ethereum’s short-term price action.
According to blockchain tracking platform Lookonchain, Buterin’s latest sale was 675.88 ETH, worth roughly $1.25 million. He converted the funds into various stablecoins, including PYUSD, EURC, LUSD, and GHO.
One-Month Timeline
The selling activity began on February 2, following Buterin’s January 30 announcement outlining his financial strategy. He said he planned to liquidate a total of 16,384 ETH to fund ecosystem development, open-source software, and security-focused initiatives, as the Ethereum Foundation moves into what he described as a “mild austerity” phase.
Since early February:
- He has sold over 11,400 ETH, worth approximately $23 million.
- In just the past four days, he unloaded 4,326 ETH valued at about $8.1 million.
So far, around 70% of the planned 16,384 ETH allocation has been sold. Roughly 4,000 ETH, worth about $9.5 million, remains to be liquidated if the plan continues as outlined.
Market Impact
Founder sales often create unease in crypto markets, regardless of the reason. More than 10,000 ETH hitting the market over a short period naturally increases visible sell pressure.
Ethereum has already experienced a challenging month, dropping more than 35% over the past 30 days, falling from around $2,950 to near $1,800 during the correction phase. However, at the time of writing, ETH is showing signs of recovery, trading near $1,920, up nearly 5% in the past 24 hours.
The rally now faces a critical test. The $2,000 level stands as immediate resistance. A clean break above that psychological barrier could open the door toward $2,100. On the downside, $1,850 is a support zone that bulls will want to defend if selling pressure resumes.
Related: Ethereum Foundation Begins Staking 70,000 ETH to Fund Core Operations and Secure Network
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