A familiar story for traders has been revived as Ethereum has fallen over the past two days as on-chain trackers signal another surge in selling linked to Vitalik Buterin’s wallet. That is, founder-linked distributions that appear with spot weakness.
Ethereum withdrawal coincides with new Vitalik sale
Lookonchain revealed that Buterin sold 1,869 ETH (about $3.67 million) over the past two days, when ETH fell from $1,988 to $1,875. This represents a 5.7% decline based on the figures quoted in the post. The account described the move as an acceleration: “vitalik.eth (@VitalikButerin) is selling ETH faster again. In the last two days, he sold 1,869 ETH ($3.67M). During that time, ETH fell 5.7% from $1,988 to $1,875.”
The sharper edge of the thread was the historical comparison. Lookonchain pointed out that in the previous episode, Buterin sold 6,958 ETH (about $14.78 million), after which ETH fell 22.7% from $2,360 to $1,825. “The last time he sold 6,958 ETH ($14.78M), $ETH fell from $2,360 to $1,825, a decline of 22.7%,” the post added, linking to Buterin’s Arkham entity page.
While comparisons do not prove causation, it is precisely the kind of pattern matching that can be important in the margins of markets primed for deal flow. Entrepreneur wallets are closely monitored, and any hint of supply resumption can become a focus for positioning. This is especially true if prices are already falling.
A previous post on Lookonchain dated February 22 described this sequence as a pause followed by a return to activity. “After a two-week break, Vitalik.eth (@VitalikButerin) is selling ETH again! 8 hours ago he withdrew 3,500 ETH ($6.95M) from Aave for selling. So far, he has already sold 571 ETH ($1.13M),” the account reads.
These details are important because they frame the sale as an intentional unwinding rather than a passive movement between wallets. Taking ETH from Aave and selling some of it is the kind of breadcrumb traders look for when trying to differentiate between “wallet management” and outright distribution.
The February 22 post also sits above another Lookonchain note from February 5, which outlined continued selling for several days. “vitalik.eth (@VitalikButerin) is rapidly abandoning ETH!” “In the last three days, Vitalik sold 2,961.5 $ETH ($6.6M) at an average price of $2,228, with sales still ongoing,” he added.
For the markets, the immediate question is whether this remains a contained and traceable flow or whether simply staying on the tape becomes the kind of recurring headline that lowers liquidity and sentiment. As additional wallet-linked selling surfaces, traders will likely continue to stress-test the “history repeating” narrative for prices rather than assuming selling is the only driver.
At press time, Ethereum was trading at $1,884.
Featured image created with DALL.E, chart from TradingView.com
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