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Vitalik Buterin is continuing his planned Ethereum sales, even as the market rallies sharply. According to on-chain tracking platforms Lookonchain and Onchain Lens, Buterin recently sold another 4,458 $ETH worth approximately $8.92 million.
This latest transaction brings his total progress to 97% completion of a previously disclosed plan to sell 16,384 $ETH.
Only 504 $ETH, valued at just over $1 million, remains to be sold.
Nearly $31 Million Sold Since February
Data shows that since February 2, Buterin has sold 15,479 $ETH for around $30.94 million, at an average price close to $1,999 per $ETH.
Over the past seven days alone, he reportedly converted more than $8.6 million worth of $ETH into various stablecoins, including PYUSD, EURC, LUSD, and GHO.
Despite the sales, Buterin still holds approximately 259,350 $ETH, worth nearly $500 million, spread across multiple wallets.
Ethereum Rises 7% Despite Selling
Interestingly, the selling activity has not slowed down Ethereum’s price momentum.
Ethereum is up about 7.5% in the past 24 hours, trading near $2,058. The rally significantly outperformed Bitcoin, which gained around 3.4% during the same period.
Trading volume has surged, showing strong buying interest and investor confidence.
The price recently touched a range high near $2,150 before pulling back slightly.
What’s Next for $ETH Price?
In the short term, Ethereum appears to be consolidating after its strong rally.
Levels to watch:
- Immediate support between $1,990 and $2,073
- Stronger support near $1,820
- Resistance around $2,155, followed by $2,214
If $ETH holds above the $1,990 level, analysts say another push toward $2,200 could be possible. However, a break below support may increase the risk of a deeper pullback.
Some experts are also watching for confirmation of a full five-wave upward move, which would strengthen the bullish case.
cointelegraph.com
decrypt.co
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