PiCK

Vitalik selling off Ethereum… sold 17,000 in February alone

JOON HYOUNG LEE

Summary

Reports said Vitalik Buterin has sold about 17,000 Ethereum (around $43 million) so far this month.
CoinDesk reported that the sales were split into multiple transactions, translating into slow, sustained selling pressure that is gradually weighing on the market.
It said Ethereum’s price has plunged about 33% over the past month, while more than 30% of total supply remains locked in staking and yields have fallen to around 2.8%.

Vitalik Buterin, co-founder of Ethereum (ETH), has reportedly sold as many as 17,000 ether so far this month.

CoinDesk, citing data from blockchain analytics firm Arkham Intelligence on the 25th (local time), reported that the ETH holdings in Buterin’s wallet fell by around 17,000 over the past month, from 241,000 at the start of this month to 224,000 as of that day. At current prices, that is worth $43 million (about 6.2 billion won).

Buterin’s selling appears to have been concentrated in early and late February. Specifically, he sold $6.6 million worth of ETH over three days at the start of the month. He then offloaded another $7 million worth of ETH over the past three days.

The sales were reportedly executed in multiple tranches rather than as a single large transaction. CoinDesk said that “this approach translates not into a one-off dump but into slow, persistent selling pressure, creating a gradual drag on the market,” adding that “Buterin’s selling is adding further headwinds for Ethereum, which is already struggling to find a clear narrative.”

What has drawn the market’s attention is that Buterin’s recent sales have coincided with a slide in Ethereum’s price. According to CoinMarketCap, Ethereum has plunged nearly 33% over the past month. CoinDesk said that “more than 30% of Ethereum’s total supply remains locked in staking,” adding that “yields have fallen to around 2.8%.”

ETH