Vitalik Buterin Completes Ethereum Sales – Why and How Much Did He Sell?

Vitalik Buterin liquidated all of his Ethereum (ETH) assets in his wallet, known as the “project budget,” after a process that lasted approximately three weeks.

According to data shared by on-chain data analyst Yu Jin, a total of 19,268 ETH held at the address starting with “0xfeb” was sold. The total value of the sales was approximately $38.77 million, with an average selling price of $2,012. This amount exceeded the previously announced planned sale of 16,384 ETH.

The sales process spanned a 23-day period, and the acquired ETH was converted into various stablecoins within the Ethereum ecosystem. These included decentralized finance (DeFi) focused assets such as USDtb, GHO, EURC, PYUSD, and LUSD.

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Buterin announced at the end of January that the Ethereum Foundation was entering a “period of moderate austerity.” As part of his personal austerity plan, he stated that he would directly assume some responsibilities that would normally be undertaken by a “special project” within the foundation. He explained that the proceeds from the sale of 16,384 ETH would be used to build an open-source, secure, and verifiable full-stack hardware and software system.

*This is not investment advice.

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