 ▲ Ethereum (ETH), Vitalik Buterin / AI-generated image |
Ethereum (ETH) founder Vitalik Buterin is dampening investor sentiment by selling 3,700 ETH over three days amid a steep downturn in the cryptocurrency market.
According to crypto media outlet U.Today on February 24 (local time), Buterin offloaded a total of 3,700 ETH over the past 72 hours, exerting significant downward pressure on the market. The sales came at a sensitive time as Ethereum fell below the psychological support level of $2,000, extending its decline to more than 30% over the past month. It was confirmed that Buterin withdrew the holdings from the decentralized finance protocol Aave and transferred them to exchanges in multiple transactions for liquidation.
On-chain data analysis shows that over the past month, Buterin has liquidated more than half of his total savings deposits in an aggressive move. This is being interpreted as a signal that the core architect of the Ethereum ecosystem is prioritizing liquidity over defending asset value, amplifying anxiety among retail investors. In particular, with assessments emerging that the market has entered a mini crypto winter, the founder’s large-scale sales are seen as a factor dimming the prospects for a short-term recovery.
Institutional investors are viewing Buterin’s actions as a typical bearish signal. In the past, large-scale disposals by Buterin have often been followed by additional corrections in Ethereum’s price, leaving the market on heightened alert. Analysts note, “Large asset sales by a founder, even if for administrative purposes, act as a strong sell indicator during periods of sharp market declines.”
Ethereum has failed to reclaim the $2,000 level and continues to show instability, now threatening the $1,800 range. As major assets including Bitcoin (BTC) decline in tandem and overall market trading volume shrinks rapidly, the founder’s substantial sell-off has become a decisive negative factor hindering a price rebound. Investors are closely monitoring changes in Buterin’s wallet balance to determine whether further selling pressure will follow.
The Ethereum Foundation and Buterin have not issued an official statement regarding the specific reasons for the sales, and the market is facing increased volatility driven by supply-demand imbalances. Given that the founder’s personal asset management is closely tied to overall confidence in the network’s value, selling pressure and weakened sentiment surrounding Ethereum are expected to persist for the time being. Ethereum is currently struggling to find a technical rebound zone while testing whether it can defend key support levels.
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