Ethereum co-founder Vitalik Buterin has resumed selling substantial amounts of ETH after a two-week pause, according to on-chain analysts. Data shows he withdrew 3,500 ETH, worth approximately $7 million, from Aave with the apparent intent to sell, having already disposed of 571 ETH valued at $1.13 million. This continues a pattern of significant sales observed throughout February, contributing to market scrutiny as Ethereum’s price struggles below $2,000.
On-chain data from Arkham Intelligence and Lookonchain shows Vitalik Buterin has resumed his Ethereum selling spree. He withdrew a batch of 3,500 ETH, worth roughly $7 million, from Aave with the likely intention to sell.
Analysts stated he had already sold 571 ETH for $1.13 million at the time of the report. This activity follows several similar instances documented in February, where Buterin disposed of large portions of his holdings.
A February 5 report indicated he sold 2,961 ETH, worth $6.6 million, within three days. The total sales later grew to 6,183 ETH, valued at $13.2 million, with an average exit price of $2,140.
Before today’s activity, Arkham Intelligence noted Buterin still held over 240,000 ETH worth around $467 million. Meanwhile, ETH’s price has been in a consistent downtrend for months after peaking near $5,000 in late August last year.
The asset fell to under $1,800 during a late January crash and currently struggles below $2,000. A popular analyst outlined the formation of a bullish flag for ETH, but noted the chart was inverted, suggesting a potential correction toward $1,400.
