Vitalik Buterin Accelerates Ether Sales Amid Weak Market

Ethereum co-founder Vitalik Buterin has recently accelerated his sales of ether, adding further bearish pressure to the cryptocurrency's price.

According to data tracked by blockchain sleuth Lookonchain, Buterin sold approximately 1,869 ether worth around $3.67 million over two days.

This sale is part of a larger plan announced in late January to fund ecosystem development and other initiatives while the Ethereum Foundation enters a 'mild austerity' phase.

As a result of these sales, the price of ether has declined nearly 3% over the past 48 hours, reaching a 20-day low of $1,844 at one point early Monday, according to CoinDesk data.