Vitalik Buterin Continuously Selling Off His ETH Holdings

According to blockchain data, a wallet believed to belong to Buterin recently executed a sale of 190 ETH, equivalent to 441,971 USDC. This transaction is part of a series of sales totaling 950 ETH, valued at approximately $2.28 million, since August 30, with an average price of $2,396 per ETH.

The series of recent ETH transactions tied to Buterin began on August 30, when his wallet received 3,800 ETH, worth approximately $9.8 million. Since then, Buterin’s wallet has strategically sold ETH in smaller batches rather than executing a single large transaction.

The first sale occurred shortly after receiving the funds, with 350 ETH sold for around $839,600, averaging about $2,398 per ETH. Following that, another 410 ETH was sold on September 2, yielding approximately $983,800 at a similar price point.

The most recent sale involved 190 ETH, converted to 441,971 USDC\. This latest transaction brings the total ETH sold to 950, worth about $2.28 million at an average price of $2,396 per ETH.

Buterin’s ongoing ETH sales have sparked various reactions within the community, ranging from concerns over potential bearish signals to interpretations that Buterin may be diversifying his assets or funding specific projects.

Recently, Ethereum has faced numerous challenges, including record-low gas fees and ongoing institutional sell-offs of ETH.

Related: Stablecoin Trading Volume on Ethereum Hits New Peak

Currently, ETH is trading around $2,370, down 42% from its peak in March of this year.