Vitalik Buterin Sells 10,723 ETH For $21.7M

Vitalik Buterin has sold 10,723 ether over three weeks for roughly $21.7 million. The transactions come as ETH trades 38% lower over the past 30 days, amplifying scrutiny around insider-linked wallet flows during market stress.

Onchain Lens and Lookonchain, citing Arkham data, flagged the swaps into stablecoins. Since Feb. 2, the Ethereum co-founder executed sales at an average price of $2,027, including 3,765 ETH for $7.08 million in the three days leading up to Feb. 24. The activity follows a Jan. 30 disclosure that he withdrew 16,384 ETH, then worth about $45 million, to fund open-source initiatives.

Do Founder Sales Signal Pressure For ETH?

Buterin said the capital would be deployed over several years across finance, communications, governance, operating systems, secure hardware, and biotech. He described the allocation as his “own share of the austerity” amid a period focused on long-term sustainability and core protocol development. The Ethereum Foundation has emphasized disciplined spending during the current cycle.

Market reaction has been mixed as price action weakens. Ether trades around $1,825, down 3.5% in the past 24 hours and 63% below its nearly $5,000 peak reached in August last year, according to price data. Lookonchain noted that during a prior 6,958 ETH sale for $14.78 million, ETH fell 22.7% from $2,360 to $1,825, while a separate 1,869 ETH sale preceded a 5.7% two-day drop.

Some users on X criticized the timing, while others pointed to the pre-announced funding plan and long-term deployment horizon. The distinction between discretionary liquidation and planned capital allocation remains central to sentiment. Traders will watch subsequent wallet movements and the pace of ETH’s drawdown for signs of stabilization or renewed volatility.