Ethereum co-founder Vitalik Buterin accelerated his ETH sales in February amid broad market weakness. According to on-chain tracker Lookonchain, Buterin sold 1,869 ETH worth approximately $3.67 million over two days. During that period, Ether's price dropped from $1,988 to $1,875, a 5.7% decline.
1,869 ETH Sold in Two Days
On-chain records show Buterin started selling near $1,988, and the price quickly slid after the transactions. This latest sale followed a withdrawal of 3,500 ETH from the Aave lending protocol, with 571 ETH being swapped for stablecoins within hours of the withdrawal.
Earlier $14.78 Million Dump
A larger sale had occurred earlier in late January: Buterin offloaded 6,958 ETH worth $14.78 million. That move coincided with a sharp fall from $2,360 to $1,825, a 22.7% drop. Once again, the tokens were sourced from Aave.
Foundation's Austerity Plan and Accelerated Dumping
On January 30, Buterin announced the Ethereum Foundation had entered a period of "mild austerity," focusing on tighter resource management. As part of this plan, he withdrew 16,384 ETH, stating the funds would support operations over several years. However, sales picked up soon after. On February 2, he began selling portions of that stash, unloading $6.6 million worth of ETH in three days at an average price of roughly $2,228.
As of press time, ETH traded at $1,872. The latest sale drove an intraday decline of over 5%, with weekly losses at 4.6% and monthly losses nearing 36%. Meanwhile, trading volume surged 33% to $15.24 billion over 24 hours, signaling heightened volatility. Buterin has stated all transactions are publicly visible on the blockchain.