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The Ethereum co-founder’s monitored wallets decreased from 241,000 ETH to 224,000 ETH in February, with transactions conducted via CoW Protocol in smaller increments to minimize market disruption.
What to know:
- Vitalik Buterin has decreased his ether holdings by approximately 17,000 ETH, equivalent to $43 million, in February after committing a similar amount to support privacy and security initiatives.
- The transactions, carried out in numerous small trades via the CoW Protocol, have coincided with a 37% decline in ether’s price over the previous month, bringing it to around $1,900.
- The decrease in ether’s value and reduced staking yields near 2.8% have exacerbated unrealized losses for significant corporate holders such as Bitmine Immersion Technologies.
Vitalik Buterin allocated 17,000 ether, valued at about $43 million, for privacy projects in January. A month later, his wallet balance has diminished by roughly that figure, and the token he is liquidating has lost over a third of its worth.
Data from Arkham Intelligence indicates that Buterin’s associated wallets held approximately 241,000 ETH at the beginning of February. That number has now decreased to 224,000 ETH following a consistent series of outflows throughout the month, which included $6.6 million over three days earlier in February and about another $7 million in the last three days alone.
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The transactions were carried out through the decentralized exchange aggregator CoW Protocol, segmented into multiple smaller swaps instead of one large transaction.
This strategy is a common practice to mitigate slippage on volume, but it also indicates that the selling has been a gradual and consistent process rather than a single event.
The timing is challenging. Ether has experienced a 37% drop over the past month, as per CoinDesk market data, trading close to $1,900 on Wednesday, and Buterin’s ongoing sales contribute additional attention to a token that is already facing narrative difficulties.
Over 30% of the ETH supply is still locked in staking, but yields have shrunk to approximately 2.8%, making the lock-up less appealing compared to risk-free alternatives.
Buterin disclosed the $43 million allocation in January, stating he had reserved 16,384 ETH to support privacy-enhancing technologies, open hardware, and secure software systems.
He characterized the initiative as one he would personally oversee as the Ethereum Foundation entered a phase of “mild austerity” while adhering
