Vitalik on Ethereum Sales: “That Was the Last One”

• Vitalik Buterin has suggested that he is done selling ETH.
• The Ethereum co-founder shed light on the reason for his most recent seven-figure move.
• ETH needs more than an end to Vitalik’s sales to change its trajectory.

Despite market optimism earlier in the year , Ethereum ‘s price has been in reverse since March 2024 and has failed to shift gears even after the recent approval of spot ETH ETFs . Amid the downhill run, there has been plenty of blame to go around, from the growing dominance of Layer 2 chains to selling from the Ethereum Foundation and co-founder Vitalik Buterin .

While Vitalik has clarified that his ETH sales are for donations and not profit, for many community members, they still add to the increasingly dampening sentiment around the asset. As such, the Ethereum co-founder has continued to be heckled online about his ETH asset moves. In response to one such comment, Vitalik suggested he would no longer engage in ETH sales.

Vitalik’s Ethereum Selling Over?

Ethereum co-founder Vitalik Buterin has suggested that he is done selling ETH. He alluded to this on Thursday, September 12, in response to a community member who urged him to stop selling the asset.

The statement follows reports from crypto smart money tracker Lookonchain that the Ethereum co-founder had sold 950 ETH worth $2.27 million in the past two weeks, with the most recent sale of 190 ETH for over $440,000 coming on Wednesday, September 11. 

Vitalik explained this sale was a donation to a “bio-defense group,” adding that it was an automated “Cowswap twap order” set up on August 29. However, the Ethereum co-founder said, “That was the last one [ETH Sale].”

Reacting to Vitalik’s comment, several Ethereum community members have expressed excitement about ETH’s price prospects.

Up Only for ETH Now?

Despite the excitement, ETH needs more than an end to Vitalik’s sales to change its trajectory. Like most risk assets in recent weeks, the primary drivers of ETH’s price action are shifting macroeconomic winds as traders speculate on the Federal Reserve’s anticipated interest rate decision and a potential unraveling of the yen carry trade.

While it appears increasingly clear that the Fed will cut rates this month, a bullish move for risk assets, fears of the yen carry trade unwinding remain. On Tuesday, September 3, Bank of Japan Governor Kazuo Ueda asserted that the central bank would continue if the economy performed according to expectations.

Amid the broad market uncertainty, Ethereum is trading at the $2,360 price point at the time of writing, representing a 1.5% increase in the past 24 hours, per CoinMarketCap data .

On the Flipside 

• Some of Vitalik’s donations have been towards the Ethereum ecosystem.
• There is no correlation between Vitalik’s asset moves and ETH’s performance.

Why This Matters

Vitalik’s ETH moves have been a major topic of discussion among members of the Ethereum community in recent weeks. The Ethereum co-founder’s recent statements could help put these, albeit potentially exaggerated, concerns to bed.

Read this for more on Vitalik and Ethereum:
Vitalik Buterin, Ethereum Foundation Amp Up ETH Sell-Off Again

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