Ethereum Price Plummets Amid Institutional Buying

Ethereum's price has experienced a significant decline in recent months, dropping over 60% from its August peak of $4,950. This downturn is mirrored in the broader crypto market, which has seen a loss of $2 trillion in market capitalization.

Despite this, Vitalik Buterin continues to sell his personal Ethereum holdings. According to on-chain data, he sold over $8 million worth of tokens last weekend and has continued to convert ETH into stablecoins via the decentralized exchange Cow Swap.

This sale extends Buterin's previous disposal of roughly $7 million in early February, which he stated would fund new initiatives as Ethereum enters a 'moderate contraction phase' to achieve its goals. His roadmap includes securing the blockchain's long-term future and ensuring Ethereum becomes a 'scalable world computer without sacrificing decentralization.'