Major ETH Sell-Off Sparks Discussion
Recent on-chain data revealed by Onchain Lens shows Ethereum co-founder Vitalik Buterin has once again moved significant ETH holdings, converting 428.57 ETH into approximately 850,178 GHO stablecoins. Analysts speculate this could indicate further sales are imminent.
Systematic Position Reduction
Since February 2, the wallet associated with Buterin has systematically reduced its ETH holdings by 7,386 tokens, representing approximately $15.5M in value at average prices near $2,100 per ETH.
- Single transaction involves 428.57 ETH
- Total reduction exceeds 7,300 ETH
- Aggregate proceeds approach $16M
The strategic selling pattern has generated widespread discussion across crypto communities regarding potential market implications.