Significant $ETH Liquidation by Co-founder Concluded
Ethereum co-founder Vitalik Buterin completed a significant sale of $ETH from his personal holdings.
Funding the Ethereum Foundation: Purpose and Impact
The stated purpose of these $ETH sales was to fund the Ethereum Foundation. Specific fund allocation details were not disclosed.
Timeline and Specifics of the $ETH Disposals
Initial reports indicated a plan to sell approximately 16,384 $ETH. Intermediate reports detailed the sale of 17,196 $ETH, generating an estimated $34.96 million. The final amount of 19,326 $ETH, totaling $39.36 million, exceeded earlier projections by over $4 million.
Market Reaction and Community Sentiment
Following reports of the disposals, $ETH price pulled back nearly 4%, trading around the key $2,000 support level. Community sentiment was predominantly bearish, with an average sentiment score of -23.375 across various platforms. While some reports noting the Ethereum Foundation funding purpose registered a positive sentiment score of 40, the broader community reaction to the selling activity itself leaned bearish, with individual reports as low as -56.