Ethereum co-founder Vitalik Buterin has sold nearly 3,000 ETH in recent days, according to on-chain data tracked by blockchain analytics firm Lookonchain. The transactions totaled about 2,961.5 ETH, worth roughly $6.6 million, and took place over a three-day period. The activity quickly drew attention across the crypto market.
On-Chain Data Shows Strategic ETH Sales
Public blockchain records show that wallets linked to Buterin executed multiple smaller swaps instead of one large transaction. This approach likely helped reduce sudden price swings and limit market impact.
Because Ethereum operates on a transparent blockchain, anyone can track major wallet movements. Therefore, high-profile transactions often spark discussion, especially during uncertain market conditions.
Key details from the reported sales include:
- 2,961.5 ETH sold over three days
- Estimated value of approximately $6.6 million
- Transactions split into smaller swaps
These sales were visible through standard on-chain analytics tools.
Sales Follow Broader ETH Withdrawals
The ETH sales happened while Ethereum’s price faced downward pressure. As the broader crypto market weakened, investors paid closer attention to large wallet activity.
Earlier, on January 30, Buterin announced he withdrew 16,384 ETH, valued between $43 million and $45 million. He said he planned to use those funds to support Ethereum development, research, and open-source infrastructure projects.
This earlier disclosure provides important context. Many analysts believe the recent ETH sales align with that long-term funding plan rather than signaling a shift in confidence.
Founder-level sales often influence short-term sentiment. Even routine asset movements can trigger speculation during market downturns. However, several observers view these transactions as structured fund deployment for ecosystem growth.
For now, blockchain data confirms the sales. The long-term impact on Ethereum’s price and investor confidence remains uncertain.
