Ethereum’s value has climbed over the past 24 hours, gaining momentum in line with the broader recovery across cryptocurrency markets. On-chain data suggest this price uptick is being fueled by a mix of selling and buying pressure, signaling a clear divide in investor sentiment and positioning.
Buterin Continues ETH Transfers
Vitalik Buterin, one of Ethereum’s co-founders, has recently offloaded a substantial portion of his personal ETH holdings. Blockchain analytics group Lookonchain reported that Buterin sold 675.88 ETH in his latest transaction, bringing his monthly total to 11,422 ETH—valued at approximately $23.33 million. Previous disclosures indicated that Buterin intended to move 16,384 ETH for potential long-term projects in the coming years.
Lookonchain stated: “Around 70% of the planned 16,384 ETH sale has been carried out.”
Further on-chain records show continued activity from Buterin’s wallets. The ongoing transfers indicate that his ETH sales are not yet complete, contributing to the current dynamic environment around Ethereum’s supply.
Treasury Firms and Large Holders Shift ETH
Institutional players are also moving significant volumes of ETH. Asset management firm FG Nexus recently transferred 7,550 ETH to Galaxy Digital. Last August and September, FG Nexus accumulated 50,770 ETH, averaging a purchase price of roughly $3,860 per ETH. However, the company later sold off 21,025 ETH at an average price of $2,649 per ETH—locking in losses amid price volatility.
According to Lookonchain’s analysis: “The company still holds 30,094 ETH (worth $57.5 million), and its total losses have reached $82.8 million.”
Mounting price pressure is taking its toll on digital asset management firms beyond FG Nexus. BitMine, for example, is facing over $7 billion in unrealized losses. Despite this setback, BitMine purchased an additional 51,162 ETH last week, bringing its total balance to 4,422,659 ETH. In the same period, a major whale linked to the 0x2bd7 address converted 205 BTC into 6,973 ETH, a sign that large investors continue to shuffle their portfolios amid the uncertain market direction.
Recent Price Uptick and Technical Levels
Despite recent sell-offs, Ethereum’s price has proven resilient. Over the past day, ETH posted a gain of roughly 5 percent, while the overall cryptocurrency market capitalization advanced by 3.28 percent. During this rally, Ethereum traded near the $1,916 level. Market analyst Ted Pillows highlighted that while there are signs of recovery, ETH must build stronger upward momentum to confirm a sustained bullish trend.
Pillows commented: “Ethereum has yet to deliver a definitive bullish confirmation as it hasn’t reclaimed the $2,000 level.”
Institutional investors and large individual holders have been actively repositioning their portfolios in recent days, reflecting the shifting landscape in the crypto sector. Observers note that Ethereum’s short-term trajectory is likely to remain closely tied to overall market movements as these shifts play out.
