Summary
- He reported that Vitalik Buterin sold 1,869 ETH (about $3.67 million) over the past 48 hours.
- He said that including this sale, Buterin’s cumulative sales in February have exceeded 8,800 ETH, totaling about $16 million to $18 million.
- Buterin said he plans to gradually sell 16,384 ETH held through his entity "Kanro" and use the proceeds for Ethereum ecosystem development and privacy technologies, among other areas.
Vitalik Buterin, co-founder of Ethereum (ETH), has reportedly made additional sales of Ethereum.
On the 23rd, crypto news outlet Finbold, citing on-chain data platform Lookonchain, reported that "Buterin sold 1,869 ETH over the past 48 hours." The sale was worth about $3.67 million.
Over the same period, Ethereum’s price fell about 5.7%, from $1,988 to $1,875. Ethereum is currently trading at $1,916.
Buterin also sold 6,958 ETH (about $14.78 million) earlier this month. At the time, Ethereum’s price dropped about 22.7%, from $2,360 to $1,825.
Including this sale, Buterin’s cumulative sales in February have surpassed 8,800 ETH. In dollar terms, the total is estimated at roughly $16 million to $18 million.
Previously, on the 30th of last month, Buterin said he would gradually sell 16,384 ETH held through his entity "Kanro." He explained that the proceeds would be used to support areas including development of the Ethereum ecosystem, open-source software, research funding, and privacy technologies.
More recently, there were also signs that he withdrew 3,500 ETH from the decentralized finance (DeFi) protocol Aave and converted part of it into stablecoins such as GHO and USDC.
Minseung Kang
minriver@bloomingbit.ioBlockchain journalist | Writer of Trade Now & Altcoin Now, must-read content for investors.
