Ethereum co-founder Vitalik Buterin reportedly sold 2,961.5 ETH over the past three days at an average price of $2,228 per ETH, netting approximately $6.6 million. Lookonchain said the sale appears to be ongoing. The move coincides with a broader crypto downturn, with Ethereum down more than 35% in the past month and trading below $2,000 after an 8.5% one-day drop.
Institutional funds have also been exiting the market. SoSo Value reported about $79.5 million exited the US Ethereum spot ETF in a single day, contributing to a net outflow. The Ethereum spot ETF has logged three consecutive months of net outflows on a monthly basis from November last year through last month, underscoring continued selling pressure in the sector.
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