Ethereum Founder Vitalik Buterin Continues ETH Selling Spree
Vitalik Buterin has recently sold over 3,100 ETH (more than $6.1 million) for stablecoins via decentralized exchange CoW Swap, reducing his on-chain Ethereum holdings to about 224,000 ETH ($426 million). These sales follow Buterin’s previous $29 million Ethereum transfer, part of which was sold to support Ethereum Foundation initiatives. He had earlier indicated plans to sell up to $44.7 million in ETH as the Foundation adopts a period of “mild austerity” to ensure long-term sustainability and protect Ethereum's core mission. The sales coincide with a broader crypto market downturn; Ethereum’s price has dropped about 4% in the last 24 hours to $1,872 and is down over 36% in the past month. Prediction market users anticipate further declines, with a 73% chance of ETH falling to $1,500 before rebounding to $3,000. Buterin has also recently advocated for changes in Ethereum’s approach to scaling solutions and supported a censorship-resistant network upgrade.
