Vitalik Buterin Sells $7.3M in ETH Over Three Days During Continued Market Downturn

• Vitalik Buterin reduced 3,788.57 ETH, worth around $7.3 million, in just three days.
• Ethereum slides 4% today, trading at $1,821.55, which marks a 37% monthly fall.

The founder-related wallet moves are always important, mainly during the turbulent crypto market. In such a scenario, Ethereum founder Vitalik Buterin has sold ETH worth around $7.3 million in just three days, as the transactions occurred during a period when ETH is experiencing persistent monthly losses and volatility, which raises fears about major on-chain moves.

On-chain analytics tool Lookonchain said that Buterin sold 3,788.57 ETH, coinciding with Ethereum’s current bearish trend. The previous day, ETH had plummeted to $1,858, indicating further downward pressure. 

According to Arkham Intel data, Vitalik Buterin’s portfolio stands at $432 million, and at present, he holds 224.106K ETH, which covers the portfolio value of $408.37 million. As a result, the recent ETH sales of Buterin are only a small fraction of the present total portfolio.

​At the same time, Buterin spoke that perfect crypto security remains unattainable due to the complexity of human intent and the limitations of code. For that, he stressed a layered security, intended to improve user safety and limit systemic risks.

ETH Price Update

While writing the article, ETH is trading at $1,821.55, down 3.42% on the day. The asset has declined more than 8% over the past seven days and dropped around 37% in the past month. Meanwhile, the daily trading volume increased by 25%, which indicates high market activity even during the price drop.

According to  Coinglass data, Ethereum’s total liquidations stand at $105.48 million over the past 24 hours, with the majority wiped out by the long positions, which are around $81 million, which signals that bullish traders were affected the most. In addition, the open interest also been negative, which is down 2.41% shows that the traders are closing positions and that fresh capital inflows remain limited.

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