Ethereum: Vitalik moved 705 ETH and the market panicked – Here’s what happened

In crypto, even a small alert can cause big reactions, especially when it involves Vitalik Buterin, Ethereum’s co-founder.

Over the last 24 hours, Lookonchain data showed Buterin moving 705 ETH in total, including a 493 ETH transfer worth about $1.16 million, after an earlier 211.84 ETH swap.

As expected, the word “sell” quickly sparked panic.

However, this move did not signal any loss of confidence in Ethereum [ETH]. Instead, it followed a familiar pattern Buterin has repeated many times.

For those unaware, he regularly converts ETH into stablecoins like USDC and directs the funds to Kanro, a biotech charity focused on pandemic preparedness.

Rather than cashing out for personal gain, Buterin actively uses his crypto wealth to fund real-world research and public health initiatives.

A planned, long-term approach

This move fits into Vitalik Buterin’s broader strategy. He has clearly stated that he wants to cut direct spending by the Ethereum Foundation and personally fund high-impact projects instead.

These include biotech research, decentralized governance, secure hardware, and open-source tools.

Earlier this year, he allocated 16,384 ETH (around $45 million) specifically to support open-source security and privacy initiatives.

That’s why these transfers are planned and consistent, not sudden or emotional reactions.

While social media continues to spotlight Buterin’s wallet activity, large institutions are taking the opposite approach by increasing their ETH exposure.

A key example is Tom Lee’s BitMine Immersion Technologies, which recently added 41,788 ETH to its treasury, despite sitting on roughly $6 billion in unrealized losses.

What are the charts saying?

This comes at a time when Ethereum was trading near $2,274, down slightly over the last 24 hours, as per CoinMarketCap.

MACD confirmed the bearish trend as it stood below the signal line with histograms. However, RSI lying in oversold territory suggests that selling may be getting tired. 

This combination often shows up near market bottoms. However, it doesn’t guarantee a bounce, but it does suggest that the downside pressure may be close to its limit.

This followed Buterin’s recent suggestion on how he thinks about money and value in the digital age.

Buterin has been speaking more openly about what he calls the “creator crisis.” 

All this combined suggests that Buterin usually stays away from short-term trading noise and toward using capital to solve serious, real-world problems. 

Final thoughts

• Vitalik Buterin’s ETH transfers are being misread because speculation has trained traders to fear every movement.
• Institutional buyers accumulating during weakness suggest Ethereum’s long-term thesis remains intact.