 ▲ Ethereum (ETH), Vitalik Buterin / AI-generated image |
Ethereum (ETH) founder Vitalik Buterin has sold a large amount of assets amid a decline in Ethereum’s price.
On February 23 local time, crypto-focused outlet BeInCrypto reported, citing on-chain data, that Buterin sold approximately 100 ETH. It is understood that he used the privacy protocol Railgun to move the funds in this transaction. Buterin exchanged the 100 ETH for about 241,000 USDC. The move drew market attention as it coincided with Ethereum threatening the psychological support level of $2,000.
This is not the first time Buterin has sold assets. Over the past several months, he has regularly transferred Ethereum to exchanges or other wallets to adjust his portfolio. In the past, Buterin stated regarding his asset movements that they were “for personal donations or project support, not sales anticipating a market decline.” However, whenever the founder’s direct sales are detected on-chain, the market tends to восприceived them negatively, increasing downward pressure on prices.
The Ethereum market is currently undergoing a correction amid macroeconomic uncertainties such as inflation concerns and geopolitical risks. With inflows into spot Ethereum ETFs slowing, large sell-offs by whales further dampen investor sentiment. Experts warn that if Ethereum fails to firmly defend the $2,000 support level, the possibility of an additional decline to around $1,700 remains open.
Within the Ethereum ecosystem, efforts to implement technical upgrades and activate the network continue, but they appear to have limited impact in the face of short-term price volatility. Buterin’s latest sale is interpreted not as a sign of technical flaws but as part of strategic fund management amid overall market liquidity contraction. Nevertheless, investors are closely monitoring the founder’s moves and maintaining a cautious stance.
The Ethereum market is passing through a period of heightened volatility as capital flows from major investors intersect with changes in macroeconomic indicators. Debate is expected to continue over whether Buterin’s asset transfer signals a long-term trend shift rather than a simple move to secure liquidity. The future direction of Ethereum’s price will likely depend on whether key support levels hold and how quickly institutional capital returns.
*Disclaimer: This article is for investment reference only, and we are not responsible for any losses incurred based on it. The content should be interpreted for informational purposes only.*