The probability of Ethereum falling below 1500 USD is 76%! Vitalik sold about 18 million USD in February, in line with the Foundation's policies and funding projects.

V God sells 8,651 ETH in February, cashing out approximately $18 million. This move aligns with the Ethereum Foundation’s tightening policies to fund long-term projects related to privacy and public health. However, the rapid selling has raised market concerns, with a 76% probability of ETH falling below $1,500 this year.

V God Continues Selling ETH in February, Cashing Out Nearly $18 Million

Yesterday (2/23), on-chain analysis tools Onchain Lens and Lookonchain reported that Ethereum co-founder Vitalik Buterin (commonly referred to as V God) has been accelerating his ETH sales recently.

As of February 23, V God has sold a total of 8,651 ETH since February, worth approximately $17.97 million, with an average sale price of about $2,077. Lookonchain’s data further shows that V God sold 1,869 ETH in just the past two days.

During this period, ETH’s price dropped from $1,988 to $1,875, a decline of 5.7%. On-chain data indicates that one of V God’s wallets, starting with 0xfeb016, still holds 10,676 ETH, and Arkham data shows that V God currently holds over 220,000 ETH and 12,360 AETHWETH (an interest-bearing token based on Aave V3 Ethereum lending pool), among other assets.

Image source: X V God Continues Selling ETH in February, Cashing Out Nearly $18 Million

Aligning with Foundation’s Tightening Policies, Funds Shift Toward Supporting Long-Term Projects

The reason behind V God’s recent frequent transactions is related to the Ethereum Foundation’s policy announced at the end of January. At that time, V God explained in a community post that the Ethereum Foundation is entering a phase of moderate fiscal tightening. To support this long-term plan, he withdrew 16,384 ETH, which is planned to be gradually allocated to various long-term projects over the coming years.

V God stated that these funds will be used specifically for privacy infrastructure, open-source hardware and software development, and public health research through charity organization Kanro. In the post, he emphasized the goal of establishing an open-source, secure, and verifiable hardware and software infrastructure to ensure user autonomy and privacy.

V God’s Selling Pace Raises Attention, Market Outlook Turns Bearish for ETH

Although V God has previously clarified the purpose of the funds, some investors believe that his selling pace is faster than initially stated. However, others remind that most of these funds are used for charity and research purposes, not for personal profit-taking.

Lookonchain’s historical records show that when V God sold a large amount of 6,958 ETH last time, ETH’s price plummeted from $2,360 to $1,825, a nearly 23% drop, which has kept the market attentive to the potential impact of this wave of selling.

Meanwhile, data from the prediction platform Polymarket shows that in a contract with a trading volume of $2.8 million, traders currently estimate a 76% chance that ETH will fall below $1,500 this year.

Image source: Polymarket, in a prediction contract with a trading volume of $2.8 million, traders currently estimate a 76% probability that ETH will drop below $1,500 this year.

This article is compiled by Crypto Agent from various sources, reviewed and edited by Crypto City. It is still in training, so there may be logical biases or informational errors. The content is for reference only and should not be considered investment advice.