Vitalik Buterin Ends Ethereum Sales, Potential Recovery on the Horizon

Vitalik Buterin, co-founder of Ethereum, has halted his recent sales of Ether, according to data from blockchain analytics firm Lookonchain.

The Canadian-born developer had been transferring his Ether holdings through a decentralized exchange aggregator, CoW Protocol, resulting in the sale of approximately 19,326 ETH at an average price of around $2,037 each. This has generated around $39.4 million in proceeds for Buterin.

Buterin's allocation of Ether in January was intended to fund privacy-focused initiatives, and he described it as his 'personal contribution to austerity' during a phase when the Ethereum Foundation is focusing on long-term sustainability and core protocol development.