Ethereum co-founder Vitalik Buterin has sold 1,869 ETH worth approximately $3.67 million over a 48-hour period, according to on-chain data from Lookonchain. The transactions, which were routed through the MEV-resistant CoW Protocol, coincided with a 5.7% decline in the price of Ethereum, which fell from $1,988 to $1,875.
These latest sales are part of a broader liquidation trend this month, with Buterin offloading over $15.5 million in digital assets since early February 2026.
vitalik.eth(@VitalikButerin) is selling $ETH faster again.
In the past 2 days, he has sold 1,869 $ETH($3.67M). During that time, $ETH fell from $1,988 to $1,875, down 5.7%.
Last time he sold 6,958 $ETH($14.78M), $ETH dropped from $2,360 to $1,825 — a 22.7% fall.… pic.twitter.com/v2x6Q3ZTme
— Lookonchain (@lookonchain) February 23, 2026
Structured liquidations via CoW Protocol
The Ethereum architect utilized CoW Protocol to execute the sales in smaller batches, a strategy designed to minimize direct market impact. Despite these efforts, the sales occurred as the broader market faced significant volatility, pushing the second-largest cryptocurrency below the psychological support level of $2,000.
On-chain trackers such as Arkham Intelligence and Onchain Lens also noted a specific swap on February 22, where 428 ETH were converted into 850,178 GHO, Aave’s native stablecoin. This suggests a move toward stable assets during periods of market uncertainty. Earlier this month, a much larger sale of 6,958 ETH preceded an even sharper 22.7% price drop, reinforcing a pattern where founder transactions align with broader market downturns.
Strategic funding and mild austerity
The recent liquidations are not spontaneous but stem from a strategic plan announced by Buterin on January 30, 2026. He revealed that the Ethereum Foundation would enter a period of “mild austerity,” prompting him to withdraw 16,384 ETH from his personal holdings to fund various ecosystem initiatives. These funds are intended to support open-source hardware, privacy-preserving technologies, and biomedical research through his Kanro philanthropic initiative.
To date, Buterin has completed over half of this planned 16,384 ETH liquidation. Despite the recent sales, he remains one of the largest individual holders of the asset, retaining over 240,000 ETH in his primary wallets.
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