Ethereum co-founder Vitalik Buterin recently made headlines by transferring 800 ETH (around $2 million) to a multisig wallet and exchanging 190 ETH for $477,000 USDC.

This move follows his earlier transfer of 3,000 ETH to the same wallet on August 9.

Buterin’s current ETH holdings have decreased from 325,000 three years ago to 240,000, marking a 27% reduction.

Despite this, he has stated that the ETH sales are intended to support projects he believes in, including those within the Ethereum ecosystem and various charitable causes.

Ethereum’s price has remained above its realized price, which has been serving as a support level despite a significant drop in value over the last five months. Historically, altcoin bull markets often begin when Ethereum is trading stronger than its realized price.

However, the MVRV Momentum indicator suggests that Ethereum is still in a downtrend with no signs of a reversal yet.

On August 30, for the first time in 30 trading days since the Ethereum Spot ETF’s launch, both the net inflow and outflow of the ETF were zero. Currently, the total net asset value of the Ethereum Spot ETF stands at $6.971 billion, with a historical cumulative net outflow of $477 million.

These developments reflect both ongoing market challenges and strategic decisions by key figures in the Ethereum community.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

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