Vitalik Buterin's ETH Sales Finally Taper Off. Will ETH Recover?
Analysis
Price Impact
LowVitalik's sales were pre-announced and the amount sold, while significant in dollar terms, is a small percentage of the total eth supply and circulating supply. the market had time to price this in, and the sales have now concluded, removing a potential overhang.
Trustworthiness
HighThe information is directly from on-chain analytics platforms (lookonchain, arkham intelligence) and references vitalik's own public disclosure of his selling plan. this is verifiable and credible information.
Price Direction
NeutralWhile the cessation of sales removes a bearish pressure, the market's reaction will depend on broader market sentiment, upcoming ethereum developments (like dencun upgrade), and overall demand for eth, not solely on vitalik's past selling activity. a recovery is possible but not guaranteed solely by this news.
Time Effect
ShortThe immediate impact of the news has likely already been absorbed as the sales concluded. any significant price movement stemming from this specific event would have occurred around the time of the sales or their announcement. future price action will be driven by other factors.
Original Article:
Article Content:
Cover image via U.Today Ethereum co-founder Vitalik Buterin appears to have concluded his recent Ethereum (ETH) selling spree, according to on-chain analytics platform Lookonchain. Advertisement In total, the Canadian prodigy has sold a total of 19,326 ETH, netting approximately $39.36 million. The sales were executed at an average price of $2,037 per token. Recent transaction logs from Arkham Intelligence show a slew of transfers originating from Buterin's Gnosis Safe. The sales were executed as Wrapped Ethereum (WETH) settlements through the CoW Protocol. HOT Stories Morning Crypto Report: XRP Reclaims Key 200-Week Support, Bitcoin Briefly Hits $47,511 in $8 Million Mistake, USDC on Cardano Hits First Big Milestone Crypto Market Review: Will XRP Hold Support Line? Bitcoin Hides Severe Price Divergence, Ethereum (ETH) Bounces in Attempt to Recover $2,000 Buterin was performing transactions of 70.776 WETH (worth roughly $146,000), 45.455 WETH, and smaller chunks of 14.894 and 7.447 WETH over the span of several hours. Advertisement He was able to secure better pricing and minimize his slippage. No surprises Buterin’s recent actions were entirely expected. Buterin announced this selling plan on Jan. 30. In his public disclosure, he stated his intention to withdraw and liquidate exactly 16,384 ETH (which was valued at nearly $45 million at the time). card Advertisement He explained that the capital allocation was meant to finance the development of secure, verifiable open-source software and hardware. He noted that the funds would be deployed over the coming years across several sectors. With the prominent founder's wallet finally pausing its outbound transfers, the Ethereum community is breathing a collective sigh of relief. However, it remains to be seen whether the token will be able to rally. Ethereum (ETH) is currently changing hands at $2,029, according to CoinGecko data. #Ethereum News