Ethereum co-founder Vitalik Buterin recently shared insights into his ETH sell-off in response to community concerns. Reports indicated that Buterin sold $190 ETH for $441,971 in USDC stablecoins. Vitalik.eth, associated with Buterin, has been actively selling Ether, raising worries about the ongoing liquidations. The wallet received 3,800 Ether totaling around $10 million from Buterin, selling 950 Ethereum at an average price of $2,396. Additionally, the Ethereum Foundation is also selling its ETH.
Recent on-chain data reveals that funds from ETH liquidation were transferred to the Aave platform. Buterin moved 2,851 ETH worth $6.73 million to Aave. The ETH sales, along with those by the Metalpha group, have led to concerns about a potential Ethereum price drop below $2,000.
To address questions about his ETH sales, Buterin explained that recent large sales were due to prior automated orders. He also announced plans to only mention L2 solutions that have reached a specific development stage from 2025 onwards, emphasizing the importance of security. Buterin highlighted the progress of Zero-Knowledge (ZK) rollup teams and the need for a 75% council threshold for decision-making in the proof system. He expressed confidence in the transition from multisig governance to cryptographic trust.
Buterin’s decision to set stricter criteria for L2 mentions reflects his dedication to promoting mature projects in the Ethereum ecosystem. His recent actions and statements aim to ensure transparency and security within the cryptocurrency community.