Vitalik Buterin Sells Over 10,000 ETH in Three Weeks After Open Source Funding Pledge

Vitalik Buterin has sold 10,723 ETH since Feb. 2, generating approximately $21.7 million in stablecoins, according to data highlighted by blockchain analytics platforms Lookonchain and Arkham. The transactions were executed at an average price near $2,027 per Ether.

In the three days leading up to Feb. 24 alone, Buterin reportedly swapped 3,765 ETH for roughly $7.08 million. The sales follow his Jan. 30 announcement that he would allocate 16,384 ETH, then valued at about $45 million, to finance open source software, hardware and biotech initiatives over the coming years.

Ethereum Price Decline and Market Reaction

The selling activity comes during a broader downturn for Ethereum’s native token. Ether has fallen about 38% over the past 30 days and is trading near $1,825, roughly 63% below its previous all-time high near $5,000.

Some market participants have criticized the timing of the sales, while others point out that Buterin publicly committed to funding long-term open-source development, describing the capital allocation as part of a broader sustainability effort. Previous large transfers from his wallet have coincided with short-term price declines, intensifying debate within the crypto community.

Disclaimer

This content is for informational purposes only and does not constitute financial, investment, or legal advice. Cryptocurrency trading involves risk and may result in financial loss.