Buterin Unloads Over $6M in ETH Amid Challenging Market Conditions
Vitalik Buterin, co-founder of Ethereum, has continued his efforts to offload Ether (ETH) from his personal wallet. According to on-chain data from analytics firm Arkham Intelligence, he sold over $6.1 million in ETH this week through the decentralized exchange CoW Swap.
This sale brings his total on-chain ETH holdings down to approximately 224,000 units, currently valued at around $426 million. The move is part of a larger effort by Buterin to reduce his Ether holdings, which he previously stated would be around $44.7 million in total.
The sales come during a challenging period for the Ethereum price, with ETH down roughly 4% over the last 24 hours and trading at around $1,872. Over the past month, it has lost more than 36% of its value, placing it over 62% below its August all-time high of $4,946.