Ethereum Dumps 5%: Why Is Co-Founder Vitalik Buterin Selling?

Ethereum (CRYPTO: ETH) is down 5% over the past 24 hours, extending its monthly decline to around 38%.

Trader Notes: Crypto trader Don Wedge said Ethereum is sitting at a major support zone with two likely paths: either a bounce from current levels or a sweep of key support before reversing higher.

In both scenarios, he expects an eventual shift into an uptrend, though timing the exact bottom remains difficult.

He added that Ethereum often feels slow and uneventful before sharp rallies, historically catching sidelined traders off guard when momentum returns.

Statistics: According to on-chain data shared by Lookonchain, Vitalik Buterin has sold 3,788.57 ETH over the past three days, worth approximately $7.3 million.

While the sales have added to short-term sentiment pressure, they represent a small fraction of overall market liquidity.

Community News: Despite the price weakness and Buterin's recent sales, corporate treasury activity remains notable.

BitMine Immersion Technologies Inc (NASDAQ:BMNR) expanded its Ethereum holdings by acquiring 51,162 ETH in the past week, bringing its total to roughly 4.4 million ETH, about 3.7% of the circulating supply.

Meanwhile, the Ethereum Foundation announced it has begun staking part of its treasury, starting with an initial deposit of 2,016 ETH. The foundation plans to stake approximately 70,000 ETH in total.

The move is designed to help secure the network while funding core operations, including protocol research and development, ecosystem growth and community grants.

Image: Shutterstock