Vitalik sells another 428.57 ETH, total 7,386 ETH sold since Feb 2
Ethereum co‑founder Vitalik Buterin sold 428.57 ETH in a recent on‑chain transaction, receiving 850,178 GHO. OnchainLens reports this sale is part of an ongoing pattern: since February 2, Vitalik has disposed of 7,386 ETH, amounting to roughly $15.51 million at an average price near $2,100 per ETH. The transfer converted a portion of ETH into the stablecoin-like GHO. No additional context on motives was provided. The activity has drawn attention because concentrated sales by prominent holders can affect short‑term liquidity and market sentiment for ETH.
Bearish
Concentrated sales by high‑profile holders typically exert short‑term downward pressure on price and sentiment. Vitalik selling 7,386 ETH since Feb 2 — including a fresh 428.57 ETH converted into 850,178 GHO — increases available supply and may trigger short‑term selling or discourage buyers, especially if traders interpret the action as a signal of liquidity needs or shifting allocations. The conversion into GHO (a protocol‑native stablecoin) suggests moves within the Ethereum ecosystem rather than exits to fiat, which moderates long‑term impact. Historically, large wallet dumps from well‑known addresses (including developer or foundation wallets) have caused temporary volatility and price dips but rarely change long‑term fundamentals when sales fund ecosystem activities or stablecoin allocations. Therefore expect short‑term bearish pressure and elevated volatility for ETH; long‑term effects are likely neutral if proceeds remain in crypto and support ecosystem use cases.