Ethereum has fallen over the past two days as on-chain trackers warned of another explosive sell-off linked to Vitalik Buterin’s wallet, reviving a familiar story for traders of founder-related circulation emerging with spot weakness.
Ethereum pullback occurs at the same time as new sale of Vitalik
According to Lookonchain, Buterin has sold 1,869 ETH (approximately $3.67 million) in the past two days, with ETH falling from $1,988 to $1,875 in this period, a 5.7% drawdown based on the numbers cited in the post. The account labeled this move as an acceleration, saying, “vitalik.eth (@VitalikButerin) is once again increasing the speed of his ETH sales. Over the past two days, he has sold 1,869 ETH ($3.67 million). During that time, ETH has fallen from $1,988 to $1,875, a decline of 5.7%.”
It was in historical comparison that the tip of the thread became sharper. Lookonchain pointed to a previous episode in which Buterin said he sold 6,958 ETH (approximately $14.78 million), after which ETH fell 22.7% from $2,360 to $1,825. “The last time he sold 6,958 ETH ($14.78 million), ETH fell from $2,360 to $1,825, a 22.7% drop,” the post added, linking to Buterin’s alleged Arkham group page.
Although this comparison does not prove causation, it is precisely the type of pattern matching that can be important at the very edges of a market with active trade flow. Founders’ wallets are being closely monitored and any signs of new supply could become a focus for positioning, especially if prices are already falling.
Lookonchain’s previous post on February 22nd described this sequence of actions as resuming activity after a pause. “After a two-week hiatus, vitalik.eth (@VitalikButerin) is selling ETH again! 8 hours ago, he withdrew 3,500 ETH ($6.95 million) from Aave to sell. To date, he has already sold 571 ETH ($1.13 million),” the account writes.
This detail is important for framing the sale as a deliberate unwinding rather than a passive movement between wallets. Withdrawing ETH from Aave and selling some of it is the kind of breadcrumb trail that traders look for when trying to differentiate “wallet housekeeping” from full distribution.
The Feb. 22 post also appears on top of another Lookonchain memo from Feb. 5 that describes sustained sales over multiple days. “vitalik.eth (@VitalikButerin) is dumping ETH fast!” “In the past 3 days, Vitalik sold 2,961.5 ETH ($6.6 million) at an average price of $2,228. And the sales are still continuing.”
The immediate question for the market is whether this will remain a subdued and traceable flow or will it become a recurring headline that remains on tape and dampens liquidity and sentiment. If additional wallet-related sell-offs surface, traders may continue to stress-test the “history repeating” narrative against price rather than assuming that the sell-off is the only factor.
At the time of writing, Ethereum was trading at $1,884.
Featured image created with DALL.E, chart on TradingView.com
editing process for is focused on providing thoroughly researched, accurate, and unbiased content. We adhere to strict sourcing standards, and each page is carefully reviewed by our team of top technology experts and experienced editors. This process ensures the integrity, relevance, and value of your content to your readers.