Ethereum co-founder Vitalik Buterin has sold approximately 2,961 ETH, totaling $6.6 million, over a three-day period following prior announcements of planned withdrawals from his holdings. The transactions, executed at an average price of $2,228 per ETH, were conducted through multiple small swaps via CoW Protocol, a method often used to minimize market impact. At the time of reporting, Ethereum’s price hovered around $2,130, marking a decline of over 5% in the past 24 hours.
Lookonchain said in a Thursday X post that;
Focus on Privacy and Open Infrastructure
Last week, Buterin disclosed he has allocated 16,384 ETH, worth roughly $45 million, to support initiatives in privacy-preserving technologies, open hardware, and secure, verifiable software. The funds are intended to be deployed gradually as the Ethereum Foundation enters a period of reduced operational spending while maintaining progress on its technical roadmap.
Buterin emphasized that he is personally overseeing projects that would traditionally fall under the Foundation’s scope, aiming to develop a secure and fully verifiable technology stack spanning software and hardware.
Market Reaction and Sensitivity
The sale occurs amid heightened market sensitivity to large ETH holders, with falling prices prompting concern among leveraged whales. Analysts note that using small, structured swaps may help mitigate short-term price disruptions while allowing Buterin to advance long-term strategic goals.
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.