The cryptocurrency market is experiencing turbulence, with Ethereum (ETH) facing significant headwinds. As of now, Ethereum’s price has dropped to $2,098.91, marking a 5.6% decline over the last 24 hours. In a broader view, ETH has shed approximately 28% of its value in the past week and nearly 34% over three months. This sharp decline coincides with market concerns over large-scale wallet transactions by Vitalik Buterin, Ethereum’s co-founder.
Vitalik Buterin’s $6.6M ETH Sale: What You Need to Know
Reports reveal that wallets linked to Buterin recently offloaded 2,961.5 ETH worth about $6.6 million, sold at an average price of $2,228 per ETH. Over the past three days, these transactions have raised eyebrows in the crypto community, with speculation arising regarding their impact on the market.
Wallet activity further reveals a planned $29 million ETH transfer, which seems to be part of Buterin’s strategic funding efforts. Some of this ETH was converted to wrapped Ethereum (wETH), while other funds were directed to his Kanro charity, focused on biotechnology and infectious disease research. These calculated moves demonstrate that the sales were likely pre-planned and not a reaction to immediate market pressures.
Evolving Support & Resistance Levels
As Ethereum prices struggle to stabilize, key technical levels are being closely monitored. Immediate support is identified at $2,007, while failure to maintain this could result in a further drop toward the $1,800 level. On the upside, investors are watching resistance at $2,133, with further hurdles at $2,274 and $2,396.
Despite a current market capitalization of $257 billion and a robust trading volume of $54.5 billion in the last 24 hours, Ethereum remains down 57% from its all-time high of $4,946.05, which was recorded in August 2025. This drop highlights both the volatility and the potential for recovery in this space.
Strategies for Investors
The ongoing price drop, paired with elevated trading volumes, signals uncertainties in the crypto ecosystem. Analysts have emphasized the importance of ETH holding above the $2,007 support level for a recovery to remain in play. Strategic investors may view this period of volatility as an opportunity to enter long-term positions as the market stabilizes.
For those actively trading, tools like the eToro cryptocurrency platform, which supports major assets like ETH, offer features such as copying top-performing crypto traders. This can be a valuable way to navigate volatile markets. Additionally, a hardware wallet like the Ledger Nano X helps secure your cryptocurrency holdings.
Looking Ahead
Market volatility and headline-grabbing transactions by prominent figures like Vitalik Buterin continue to drive speculation within the crypto market. While some view these activities as bearish signals, others interpret them as strategic maneuvers aligned with long-term objectives. As Ethereum recovers from its pullback, closely watching support and resistance levels will be crucial for traders aiming to capitalize on market fluctuations.
Overall, Ethereum remains a cornerstone of the blockchain ecosystem, and ongoing developments within the space suggest its importance won’t be diminishing anytime soon.
