Vitalik Buterin sold 493 ETH for $1.16 million, donating part of the proceeds to a biotech charity he founded.
Vitalik Buterin, co-founder of Ethereum, has sold 493 ETH for around $1.16 million, with some of the proceeds directed to a biotech charity he established. This transaction was highlighted by analysts at Lookonchain.
According to Lookonchain, Buterin sold @VitalikButerin 493 ETH ($1.16M) in the past 8 hours.
In his recent transactions, Buterin first sold 211.84 ETH and subsequently transferred $500,000 in USDC to the Kanro wallet, a charity aimed at COVID-19 research and future pandemics.
Earlier in January, he withdrew 16,384 ETH, valued at approximately $38.5 million, to bolster the Ethereum ecosystem, focusing on enhancing its scalability and productivity.
Market Context
This sale took place during a period of market downturn, with Ethereum's price nearing levels not seen since the summer of 2025. Currently, ETH is trading around $2,200, having dropped over 20% in the past week.
Market analyst Michael van de Poppe noted a pattern in the ETH to Bitcoin chart reminiscent of previous bullish trends. He observed that similar price movements occurred before significant market recoveries.
Van de Poppe stated, "The last time gold peaked, ETH bottomed 9 months prior, followed by a 300% rise against Bitcoin. We see a similar structure now."
He also pointed out that the ratio of Ethereum's market capitalization to that of silver has reached a historic low, suggesting potential for future gains.
Investment Perspective
Tom Lee, head of research at Fundstrat, characterized the current Ethereum price correction as an "attractive opportunity," citing strong fundamentals for the network despite recent declines. He attributed the drop to reduced leverage and a shift of capital into precious metals.
Notably, Ethereum's daily transaction count recently hit an all-time high of 2.8 million, with over 1 million active addresses, contrasting sharply with previous downturns when activity diminished.
Lee previously predicted Ethereum could replicate Bitcoin's "supercycle," projecting a potential rise to $15,000 in the future.
