The high-volume sales transactions made by Vitalik Buterin, one of the co-founders of Ethereum, in recent days are being watched carefully in the cryptocurrency market. Buterin, who disposed of approximately 3 thousand ETH in the last three days, was among the rare names whose transactions were verified with on-chain data. The fact that the sales coincided with a period when the market was in a downward trend led to different interpretations among investors. The transactions led both individual investors and institutional players to re-evaluate their strategies.
Details of Vitalik Buterin’s Ethereum Sales
On-chain data revealed that Vitalik Buterin sold a total of 2,961.5 ETH via his Gnosis Safe wallet in the last three days. Sales worth approximately $6.6 million were made at an average price of $2,228. During the transactions, it was seen that WETH assets were converted into stable assets such as USDC and GHO via CoW Protocol. Data indicating that the sales process is still ongoing caused market actors to follow the process closely.
While it is known that Buterin has over 300 thousand ETH in his possession, the share of the sales in the total portfolio was limited. Despite this, there was a certain impact on investor psychology due to the timing of the transactions. Especially on social media platforms, the fact that sales were made close to market bottoms paved the way for different opinions to emerge.
According to experts, the transactions in question can also be considered solely as an individual portfolio management decision. It is known that Buterin, who has played an active role in the Ethereum ecosystem for a long time, has similarly directed his assets to different projects in the past. This suggests that selling may be part of a strategy independent of short-term price movements.
Market Reactions and Current Situation in Ethereum
With the news of the sale spreading, two different approaches came to the fore in the cryptocurrency community. Some investors interpreted the transactions as an outflow of liquidity that could pose risks to small investors. Critics argued that sales of high-profile names could damage market confidence.
Supportive circles on the other side reminded that Buterin transferred his past income to Ethereum projects, open source software and biotechnology initiatives such as Kanro. According to those who support this approach, the sales are aimed at financing long-term investments rather than personal gain. For this reason, it is stated that the transactions should not be considered as a speculative move.
Market data showed that Ethereum was traded at around $2,150 during the period in question and lost around 5 percent in value in the last 24 hours. The fact that the daily transaction volume was above 10 billion dollars revealed that the liquidity in the market remained strong. At the same time, the fact that institutional investors continued their purchases indicated that long-term expectations were not completely negative.
