The co-founder of Ethereum has been selling ETH nonstop as the bearish momentum in the crypto market deepens.
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Ethereum

ETH
$2 134



24h volatility:
5.4%


Market cap:
$257.57 B



Vol. 24h:
$54.77 B



continues its bearish momentum toward the $2,000 mark as selling pressure persists from multiple sides.

Vitalik Buterin, co-founder of Ethereum, has been selling the leading altcoin as the price fell into the $2,300 territory.

vitalik.eth(@VitalikButerin) is dumping $ETH fast!

Over the past 3 days, Vitalik has sold 2,961.5 $ETH($6.6M) at an average price of $2,228 — and the selling is still ongoing.https://t.co/Q9G1lEsdiP pic.twitter.com/C1vBn5UimJ

— Lookonchain (@lookonchain) February 5, 2026

According to data from Lookonchain, Buterin sold 2,961.5 ETH for $6.6 million over the past three days. His average selling price is $2,228.

Spot ETH exchange-traded funds in the US have seen strong outflows since January 20, with very few inflows.

According to data from Farside, spot ETH ETFs registered a net outflow of $79.4 million on February 4, led by ETHA’s, a BlackRock investment product, $58.9 million sale.

On the other hand, some investors and whales have been accumulating Ethereum despite the dominant bearish momentum. A

Leading centralized crypto exchanges recorded a net outflow of 143,640 ETH, worth $335 million.

DeFi Weakens

Following the bloodbath in crypto prices, the decentralized finance sector has also witnessed a downfall.

According to data from DefiLlama, the DeFi total value locked decreased by 3.4% in 24 hours to $99.8 billion, a level last seen in May 2025.

The leading protocols Aave

AAVE
$121.5



24h volatility:
4.3%


Market cap:
$1.85 B



Vol. 24h:
$689.12 M



and Lido

LDO
$0.40



24h volatility:
5.1%


Market cap:
$335.17 M



Vol. 24h:
$44.85 M



recorded 4.5% and 7% declines in their TVLs, respectively.

With the falling prices, traders who have been betting on price falls have seen significant gains.

For example, Lookonchain data shows that a whale on Hyperliquid

HYPE
$34.72



24h volatility:
4.6%


Market cap:
$8.27 B



Vol. 24h:
$832.23 M



, calling it the “super short 0x20c2,” made a $102.7 million profit by betting against ETH.

This is a party for the shorts!

The $ETH super short 0x20c2 has made $102.7M by shorting $ETH.

The $SOL super short 0x35d1 has made $55.5M by shorting $SOL, $BTC, and $ETH.https://t.co/kY8l74stCOhttps://t.co/nkUzama0zb pic.twitter.com/WySYPKXShe

— Lookonchain (@lookonchain) February 5, 2026

Another whale gained $55.5 million by shorting Bitcoin

HYPE
$34.72



24h volatility:
4.6%


Market cap:
$8.27 B



Vol. 24h:
$832.23 M



, ETH and Solana

SOL
$92.25



24h volatility:
4.8%


Market cap:
$52.27 B



Vol. 24h:
$8.78 B



.

ETH is down 29% in the last seven days and trading at $2,100 at the time of writing. Despite the selloff, the top altcoin is seeing increased trader activity, as its daily trading volume has increased by 11% to $51 billion.

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