Ethereum co-founder Vitalik Buterin has accelerated his ETH sell-off, shaking crypto markets. Blockchain trackers Lookonchain and Onchain Lens report that Buterin has sold approximately 8,800 ETH since the start of February, worth roughly $16 million. A major sale in the first week offloaded 2,228 ETH at an average price of $2,228, netting $6.6 million. The latest move—selling 1,869 ETH—erased more than 5% from Ethereum's price in a single day, pushing it down to $1,872.
From Belt-Tightening to Rapid Fire
At the end of January, Buterin announced the Ethereum Foundation would enter a "belt-tightening" phase, planning to gradually deploy 16,384 ETH withdrawn via Aave over several years. But February brought a much faster tempo: batch sales replaced phased spending. A Foundation representative said: "While our intention was phased spending, evolving market conditions compelled a more dynamic approach." The statement failed to calm nerves as the scale and speed of sales amplified selling pressure.
Price Collapse Amid Surprising Volume Spike
Ethereum started February above $2,360 but has since lost 22.7% due to Buterin's concentrated sell orders. Monthly decline stands at a staggering 36%, among the worst in major cryptocurrencies. Paradoxically, network transaction volume surged 33% to $15.24 billion, as sharp price swings attracted speculators and opportunistic traders. Some long-term holders still bet on Ethereum's fundamentals, but the velocity of fund transfers between wallets rose sharply, generating significant liquidity even as Buterin exited.
Foundation Response and What's Next
The Ethereum Foundation reiterated the need for "proactive treasury management to protect core development operations." Yet concerns over Buterin's personal selling persist. Analysts note the sales may be driven by Foundation funding needs rather than a bearish signal from the founder. The $1,872 level has become a critical support zone; a breakdown could trigger further stop-loss cascades. Market focus now shifts to major Ethereum wallet movements and upcoming Foundation announcements. The coming weeks are expected to be decisive for both Ethereum and the broader altcoin landscape.