Over the last three days, Vitalik Buterin has been selling off around $6.6 million worth of Ether (ETH), roughly 2,961.5 coins, at an average price of $2,228 each, and is still in the process of selling. Records of his transactions show he’s converting the ETH into stablecoins like USDC and GHO using CoW Protocol. While this represents a small fraction of his substantial ETH holdings (over 300,000), it’s drawn varied responses. Some see it as a negative sign for the market, while others point to his past support for Ethereum development, biotech companies like Kanro, and other open-source projects. During this period, Ethereum’s price dipped about 5% to around $2,150, with trading volume exceeding $10 billion, despite continued interest from institutional investors.
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2026-02-05 10:47