Ethereum co-founder Vitalik Buterin has resumed selling Ethereum (ETH) after a two-week pause, drawing significant attention from traders and market observers. According to blockchain data from Lookonchain, Buterin initiated activity approximately eight hours ago by withdrawing 3,500 ETH from the Aave lending protocol, valued at roughly $6.95 million.
Following the withdrawal, on-chain tracking shows that 571 ETH (worth about $1.13 million) has already been sold. The total value of ETH moved and sold in this recent activity amounts to approximately $8.08 million.
Large-scale asset movements by prominent figures like Buterin are closely monitored as they can influence short-term market sentiment. The crypto community has engaged in widespread discussion, interpreting the moves. Some view it as routine portfolio management or diversification, while others perceive it as a potential cautious signal regarding the market.
It is crucial to contextualize Buterin's actions. Historically, he has sold ETH for various non-speculative purposes, including funding donations, supporting ecosystem development, and financing research initiatives. A withdrawal from Aave specifically indicates active management of assets previously deployed in DeFi and does not necessarily imply an imminent, full-scale liquidation.
The market reaction so far has been measured. Ethereum's price remains largely driven by broader macroeconomic trends, Bitcoin's performance, regulatory news, and overall crypto market liquidity. However, the inherent transparency of blockchain transactions means such actions are instantly visible, potentially amplifying speculative narratives even when the amounts involved represent a tiny fraction of Ethereum's total circulating supply.
This event underscores how real-time on-chain data continues to shape crypto market narratives. Investors and traders are likely to continue monitoring Buterin's wallet activity closely to see if the selloff expands or remains limited in scope.
