Ethereum co-founder Vitalik Buterin has exceeded the initial goal of selling 16,384 ETH. Data shows that the total ETH disposed of has exceeded 18,000 ETH, with the value exceeding $38 million.
The sales, which accelerated over the last 24 hours, come as Ethereum is still struggling to regain its momentum after losing almost 60 percent of its value from last summer’s all-time high of above $4,900.
Blockchain analytics firm Lookonchain announced on Thursday that Buterin-linked addresses have surpassed the 16,384 ETH mark that he disclosed in late January.
Source: X
Buterin announced on January 31, 2026, that he had taken out 16,384 ETH to fund open-source software development, hardware development, privacy projects, and security projects. He called this move “a period of mild austerity for the Ethereum Foundation,” in which he took it upon himself to fund the Foundation to ensure long-term sustainability.
The sales began early in February and have been ongoing gradually. On February 5th, Lookonchain reported that Buterin sold 2,961 ETH for $6.6 million, averaging $2,228 for each of the coins. By February 6th, the total sales had risen to 6,183 ETH, worth $13.2 million.
The sales picked up later in the month. On February 22nd, Buterin withdrew 3,500 ETH from Aave. On February 23rd, Lookonchain reported that Buterin sold 1,869 ETH for $3.67 million.
The largest movements took place between February 25 and 26. Analyst Ted Pillows stated that Buterin sold $2.83 million more in ETH within hours, raising the total for February to $38.2 million. The sales involved the transfer of 2,300 ETH after Ethereum rose by 10% in one day, marking the first time in more than four months.
Source: X
The data from Lookonchain indicates that many swaps were executed through the CoW Protocol, which is a decentralized exchange aggregator that makes large orders smaller to reduce market impact. It was able to quickly process batches from 7 to 70 WETH, increasing the amount of ETH sold from 16,384 to 18,684.
However, despite these sales, the data from Arkham Intelligence shows that Buterin is one of the largest individuals who hold ETH, with more than 240,000 ETH in the wallets that can be traced back to him.
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The price of Ethereum has been fluctuating during the selling period of Buterin. Currently, ETH is trading at $2,065. It has risen by 4.90% over the last 24 hours and by 7.51% over the last week, according to CoinMarketCap. In the last month, the price has reduced by 29%, and by almost 13% over the past year.
Source: CoinMarketCap.
Meanwhile, analyst Ali Martinez observed that the recent decline in Ethereum was also accompanied by large ETF outflows. Data indicates that institutional products sold about 563,600 ETH, which is equivalent to about $1.13 billion, within the last five weeks.
Key levels to watch if the selling continues were highlighted by Martinez: levels of $1,800 as a near-term pivot, then levels of $1,584, $1,238, and finally a deeper support level of $1,089.
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