Ethereum has slipped over the past two days as on-chain trackers reported a new wave of selling linked to Vitalik Buterin’s wallets, reviving a familiar narrative for traders: a founder-linked distribution appearing alongside one-time weakness.
Ethereum withdrawal coincides with new sales from Vitalik
Lookonchain said Buterin sold 1,869 ETH (around $3.67 million) over the past two days, a window in which ETH fell from $1,988 to $1,875, a 5.7% decline based on the numbers cited in the article. The account presented the move as an acceleration: “vitalik.eth (@VitalikButerin) is selling ETH faster again. In the last 2 days, it sold 1,869 ETH ($3.67 million). During this time, ETH fell from $1,988 to $1,875, down 5.7%.”
The sharpest thread of the thread was the historical comparison. Lookonchain highlighted a previous episode when it said Buterin sold 6,958 ETH (around $14.78 million) and ETH subsequently fell from $2,360 to $1,825, a drop of 22.7%. “The last time he sold 6,958 ETH ($14.78 million), $ETH fell from $2,360 to $1,825, a decline of 22.7%,” the post adds, linking to an Arkham entity page attributed to Buterin.
The comparison does not prove causation, but it is exactly the type of pattern matching that may be of marginal importance in a market driven by trade flows. Founders’ portfolios are closely monitored and any hint of supply renewal can become a focal point for positioning, especially when the price is already falling.
Lookonchain’s previous post, dated February 22, described the streak as a return to activity after a hiatus. “After a two-week break, vitalik.eth (@VitalikButerin) is selling ETH again! 8 hours ago he withdrew 3,500 ETH ($6.95 million) from Aave to sell. So far he has already sold 571 ETH ($1.13 million),” the account writes.
This detail is important because it presents the sale as an intentional unfolding rather than a passive movement between portfolios. Mining ETH from Aave, then selling portions of it, is the kind of breadcrumbs traders look for when trying to distinguish “portfolio management” from outright distribution.
The February 22 posts also add to another Lookonchain note from February 5, which described sustained selling over several days. “vitalik.eth (@VitalikButerin) quickly dumps ETH!” he said, adding: “Over the last 3 days, Vitalik sold $2,961.5 ETH ($6.6 million) at an average price of $2,228 – and the sale is still ongoing.
For markets, the immediate question is whether this flow remains contained and traceable or whether it becomes the kind of recurring headline that depresses liquidity and sentiment simply by remaining in the ribbon. If additional portfolio-related selling appears, traders will likely continue to test the “history repeating” narrative against price, rather than assuming that selling is the sole driver.
At press time, Ethereum was trading at $1,884.
Featured image created with DALL.E, chart from TradingView.com
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