Ethereum slid to fresh short term lows as Vitalik Buterin sold more ETH, drawing fresh attention to insider selling and who is buying the supply.
Key Takeaways
- Vitalik Buterin has sold 10,723 ETH since February 2, 2026, worth about $21.74 million at an average of $2,027 per ETH.
- In the last 2.5 days covered by on chain trackers, he sold 3,765 ETH for about $7.08 million.
- ETH dropped to a 20 day low near $1,820 to $1,844, extending a decline from the $4,900 peak in August 2025.
- On chain data suggests some of the sold ETH was bought by wallets tied to Erik Voorhees and a whale linked to Matrixport.
What Happened?
Ethereum’s price weakness deepened as on chain trackers flagged fresh ETH sales by Vitalik Buterin. The Ethereum cofounder has said the sales are meant to fund ecosystem development and related initiatives, even as traders debate the market impact of a high profile seller.
vitalik.eth(@VitalikButerin) is selling $ETH faster again.
— Lookonchain (@lookonchain) February 23, 2026
In the past 2 days, he has sold 1,869 $ETH($3.67M). During that time, $ETH fell from $1,988 to $1,875, down 5.7%.
Last time he sold 6,958 $ETH($14.78M), $ETH dropped from $2,360 to $1,825 — a 22.7% fall.… pic.twitter.com/v2x6Q3ZTme
Buterin’s ETH Sales Add to a Nervy Market
Data shared by on chain accounts including Onchain Lens and Lookonchain shows Buterin has been steadily reducing ETH exposure this month. Since February 2, 2026, he has sold a reported 10,723 ETH, valued around $21.74 million, with an average sale price near $2,027 per ETH.
More recently, trackers reported that over roughly 2.5 days he sold 3,765 ETH for about $7.08 million. One set of transactions was linked to the Ethereum address 0xfeb016d0d14ac0fa6d69199608b0776d007203b2, giving traders a clear trail to monitor through public block explorers.
After a two-week break, vitalik.eth(@VitalikButerin) is selling $ETH again!
— Lookonchain (@lookonchain) February 22, 2026
8 hours ago, he withdrew 3,500 $ETH($6.95M) from Aave to sell.
So far, he has already sold 571 $ETH($1.13M).https://t.co/pMvkZHjIyDhttps://t.co/DYpg3yFecJ pic.twitter.com/jLCKLk6hE9
Where the ETH Came From and How It Was Sold?
Lookonchain also highlighted activity involving Aave and Cow Swap. According to its tracking, Buterin withdrew 3,500 ETH from Aave over two days and then swapped 1,869 ETH for stablecoins on Cow Swap, worth about $3.67 million.
The sales followed earlier transfers reported at around $29 million, with about $2.3 million of that flow said to support Ethereum Foundation related work. In a separate disclosure cited in coverage, Buterin previously indicated plans to withdraw and liquidate 16,384 ETH to finance ecosystem development, open source software, and other initiatives while the Ethereum Foundation enters a “mild austerity” phase.
Ethereum Price Drops as Buyers Step In
ETH fell nearly 3 percent over 48 hours and touched a 20 day low around $1,820 to $1,844, based on market data referenced in reports. The move adds to a longer slide since ETH peaked above $4,900 in August 2025.
Even with the selling, Buterin remains one of the largest known ETH holders. Reports citing Arkham Intelligence estimate he still holds just over 224,000 ETH, worth roughly $426 million to $429 million depending on spot price at the time of measurement.
Meanwhile, some observers argue the market is absorbing the supply. Lookonchain flagged purchases linked to ShapeShift founder Erik Voorhees and a large buyer associated with Matrixport, suggesting institutional and whale demand may be offsetting some of the selling pressure.
Technical Priorities Stay in Focus
Beyond the market reaction, the coverage also points to Buterin’s continued push for clearer technical priorities. He has argued Ethereum’s mainnet needs a more defined plan for how it should integrate with layer 2 networks, which process most execution off the base chain while settling results back on Ethereum.
He has also backed a planned upgrade called FOCIL, aimed at stronger censorship resistance, framing the current development phase as a push toward a “cyberphunk” direction.
CoinLaw’s Takeaway
I do not love seeing a founder sell into a weak chart, even when the reason is practical. In my experience, markets trade narratives first and details later, and big visible sales can spook traders who already feel uncertain. That said, I also found it meaningful that buyers appear to be stepping in, including well known names and large wallets tied to major crypto players. If Ethereum’s leadership can clearly explain funding needs, technical priorities, and how upgrades like FOCIL fit into the roadmap, the market will have something concrete to price in besides fear.
