Ethereum (ETH) founder Vitalik Buterin continues his sell-off.
As Bitcoin and altcoins fell due to escalating geopolitical tensions between the US and Iran and President Donald Trump’s announcement of new tariffs, Vitalik Buterin sold another $3.3 million worth of ETH.
According to Lookonchain, a cryptocurrency analytics platform, Vitalik Buterin sold 1,869 ETH (worth $3.67 million) in the past two days.
Since February 2nd, Buterin has sold a total of 8,651 ETH ($17.97 million) at an average price of $2,077.
Buterin announced his plans to sell 16,384 ETH on January 30 to support the Ethereum ecosystem.
When Vitalik Buterin sold 6,958 ETH ($14.78 million) earlier this month, ETH dropped from $2,360 to $1,825, a 22.7% decrease. In his most recent sale, ETH fell from $1,988 to $1,875, a 5.7% drop.
Historical data shows that sales associated with the founder, including Ethereum Foundation treasury transfers, can rapidly increase bearish sentiment among investors. For example, the transfer of 35,000 ETH in May 2021 (worth approximately $125 million at the time) led to a 50% drop in the ETH price within weeks.
