Ethereum co-founder Vitalik Buterin sold approximately 2.961 ETH within three days; these transactions amount to 6.6 million dollars. According to Lookonchain, the sales were executed at an average of 2.228 dollars per ETH. Arkham Intelligence data shows that the sales were made through multiple small swaps via CoW Protocol; this method is used to minimize market impact.
Currently, according to ETH detailed analysis data, ETH is trading at 2.064 dollars and has lost %7.99 value in the last 24 hours. RSI at 22.49 is in the oversold region; trend is downward, Supertrend giving bearish signal.
Critical Support and Resistance Levels for ETH
- Support S1: 2.062$ (Strong, %80 score, -1.26% distance)
- Support S2: 1.930$ (Medium, %53 score, -7.56% distance)
- Resistance R1: 2.150$ (Strong, %67 score, +2.96% distance)
- Resistance R2: 2.265$ (Strong, %66 score, +8.45% distance)
Last week, Buterin announced that he had allocated 16.384 ETH (45 million dollars); funds for privacy technologies, open hardware, and secure software. Ethereum Foundation is in savings mode. Buterin also emphasized his original vision for L2s: Innovative approaches instead of excessive scalability. Market is sensitive; leveraged whales are being liquidated. Bitwise CIO Matt Hougan says the crypto winter is nearing its end. ETH futures should be monitored.
How Did Vitalik Buterin’s ETH Sales Affect the ETH Price?
Large holder sales are pulling ETH down; pressure is increasing above EMA 20 (2.655$).
Frequently Asked Questions About ETH Sales
Why did Vitalik Buterin sell ETH? He allocated funds to privacy and open source projects.
How long will ETH keep falling? RSI oversold; S1 support is critical.
What is Buterin’s L2 vision? Focused on innovation rather than scalability.
Source: https://en.coinotag.com/vitalik-buterin-sold-3000-eth-in-3-days-eth-is-crashing
