Vitalik Buterin sells over 10,000 ETH in three weeks after pledging funding for open-source projects: onchain analysts

Onchain data indicates that Ethereum co-founder Vitalik Buterin sold a total of 10,723 ETH for approximately $21.7 million in stablecoins between February 2nd and February 24th, at an average price of $2,027 per ETH. This selling activity followed Buterin's announcement on January 30th, where he committed 16,384 ETH (worth about $45 million at the time) to personally finance an "open-source, secure and verifiable full stack" of software and hardware across various sectors over the coming years. The sales occurred during a market downturn where Ether had lost significant value. Market reactions were mixed, with some criticizing the timing while others defended the move, noting Buterin had publicly stated his funding plans beforehand. Previous large transfers from Buterin's wallet have also coincided with price declines for Ether.

(Source：The Block)