Ethereum founder Vitalik Buterin reduced his Ether balance by approximately 17,000 ETH in one month after announcing that he had allocated 45 million dollars worth of tokens to privacy projects in January. According to ETH detailed analysis data, the Arkham Intelligence report shows that the ETH amount in his wallets decreased from 241,000 at the beginning of February to 224,000 ETH on Tuesday. Recent sales include 2,961 ETH (6.6 million dollars) at the beginning of the month and 7 million dollars worth of tokens in the last three days. The sales were carried out through numerous small swaps via COW Protocol to minimize market impact.
Vitalik Buterin’s ETH Sales and Ethereum Foundation Savings
Buterin stated that he allocated 16,384 ETH for privacy-preserving technologies, open hardware, and secure software, while expressing that the Ethereum Foundation has entered a period of savings. During this process, ETH price fell 37% in the last month to 1,815 dollars (24-hour change: -%5.52). RSI at 28.82 is in oversold territory, Supertrend giving bearish signal.
Critical Support and Resistance Levels for ETH
- Support S1: 1.717$ (Strong, %71 score, -%5.39 distance)
- Support S2: 1.285$ (Medium, %46 score, -%29.17 distance)
- Resistance R1: 1.827$ (Strong, %69 score, +%0.69 distance)
- Resistance R2: 2.107$ (Strong, %68 score, +%16.13 distance)
30% of ETH supply is locked in staking, yields %2.8. Institutional holders like Bitmine Immersion Technologies face 8.8 billion dollars unrealized loss amid 60% ETH drop in the last 6 months. EMA 20: 2.058$.
Why Did ETH Fall? Market Impacts
While the downtrend continues, Buterin sales and institutional losses are creating pressure. ETH futures should be monitored.
Frequently Asked Questions About ETH
Why did Vitalik Buterin sell ETH? To allocate funds to privacy projects and for Foundation savings.
How much further can ETH price fall? S1 at 1.717$ is strong support, below it 1.285$ is risky.
What is the staking yield situation? %2.8, 30% of supply locked.
Source: https://en.coinotag.com/vitalik-buterin-sold-17k-eth-eth-decline-intensifies