ethereum

Ethereum co-founder Vitalik Buterin has intensified his ongoing sell-off of ETH holdings, raising eyebrows across the crypto community as the asset continues to struggle beneath the $2,000 threshold.
On-chain analytics platforms Arkham Intelligence and Lookonchain confirmed that Buterin withdrew an additional 3,500 ETH approximately $7 million from decentralized lending protocol Aave, with analysts suggesting the funds were earmarked for sale. Within hours of the withdrawal, on-chain data revealed that over 571 ETH, valued at roughly $1.13 million, had already been offloaded.
This latest move is part of a broader pattern that began earlier this month. A February 5 report revealed that Buterin had sold approximately 2,961 ETH, equivalent to $6.6 million, over just a three-day window. By the following day, cumulative sales had climbed to 6,183 ETH worth $13.2 million in total with an average exit price recorded at $2,140 per token.
Despite the sustained selling activity, Buterin's wallet remains substantial. Prior to the most recent transactions, Arkham Intelligence estimated his holdings at more than 240,000 ETH, carrying a market value near $467 million, underscoring that these disposals represent a fraction of his overall position.
Ethereum itself has endured a turbulent stretch. After reaching nearly $5,000 in late August of last year, the asset experienced a sharp reversal, closing 2025 near $3,000. A pronounced market correction in late January and early February drove prices below $1,800, and while some recovery has occurred since, ETH has been unable to decisively reclaim the $2,000 level.
Adding to bearish sentiment, noted analyst Ali Martinez recently identified an inverted bullish flag formation on ETH's chart a pattern that, rather than signaling upward momentum, suggests the token may be vulnerable to further downside, with potential targets falling beneath $1,400.
Whether Buterin's continued liquidation reflects personal financial planning or a broader strategic decision remains unclear. Nonetheless, the timing has not gone unnoticed by market participants already navigating a fragile and uncertain environment for Ethereum.
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The $ETH price action has not inspired much confidence recently. It has stayed mostly flat over the past 24 hours and remains down over 5% in the past seven days. Yet a small recovery attempt is underway. Since February 19, Ethereum has rebounded about 4.5%, helped by a bullish divergence on the daily chart.
This signal usually suggests that selling pressure is weakening. But at the same time, a sharp drop in staking demand is raising a new question. Is returning liquidity quietly building pressure against this recovery?
Bullish Divergence Appears, Yet Falling Staking Demand May Be Returning Supply
Ethereum’s recent rebound began after a bullish divergence formed between February 15 and February 19. A bullish divergence occurs when the price makes a lower low while the Relative Strength Index (RSI) makes a higher low. RSI is a momentum indicator that shows whether selling or buying pressure is stronger.
When RSI improves while price falls, it often signals that sellers are losing strength, allowing a rebound to begin. This is why $ETH managed to recover from its February 6 low near $1,740 and climb back toward $1,970, at press time.

However, while the chart signaled recovery, Ethereum’s staking data, compiled exclusively by BeInCrypto analysts, began to show the opposite trend.
Staking means locking ETH inside the network to help secure Ethereum and earn rewards. When #ETH is staked, it reduces the liquid supply because those coins cannot be easily sold.
But when demand falls, that supply can return to the market and increase selling risk.
Ethereum’s 6-month cumulative net staking deposits dropped from 1,994,282 ETH on January 13 to 1,008,012 ETH on February 22. This is a decline of about 986,000 ETH, or nearly 50%.

This sharp drop means far less ETH is being absorbed into staking. This allows more ETH to remain liquid or available in the market. This creates a direct conflict.
The bullish divergence suggests recovery, but falling staking demand suggests liquidity is returning. So the key question becomes clear.
Where is this returning ETH going?
Exchange Balances And Whale Selling Show Liquidity Is Already Moving
Exchange balance data provides the first clue. Ethereum balances on exchanges recently rose from 14,241,203 ETH to 14,586,720 ETH. This is an increase of about 345,500 #ETH , or roughly 2.4%, in a short time.
Exchange balances measure how much ETH is available on trading platforms. When this number rises, it usually means more ETH is available to sell.
This level is especially important because it matches levels last seen on February 4.
At that time, Ethereum’s price fell sharply from $2,140 to $1,820 in just one day, a drop of nearly 15%. This shows how rising exchange supply can quickly translate into selling pressure.

The timing also aligns closely with the staking decline, confirming that falling staking demand is contributing to rising liquid supply.
ETH whale behavior is reinforcing this trend. Whales are large holders whose buying and selling can influence price direction. Since February 19, whale holdings have dropped from 113.65 million ETH to 113.42 million ETH.
This means whales sold about 230,000 ETH in just three days. This selling happened while Ethereum was attempting to recover.

This suggests that instead of supporting the rebound, large holders are possibly using the existing or increased liquidity to reduce their positions. This combination of rising exchange balances and whale selling shows that liquidity is not just returning. It is already creating resistance.
Cost Basis Clusters Show Why the Ethereum Price Recovery Faces Immediate Resistance
On-chain cost basis data now explains where this resistance may appear. Cost basis represents the price levels at which investors previously bought their ETH. When prices return to these levels, many holders try to sell at breakeven, creating resistance unless a reason to hold emerges.
This data comes from the #UTXO Realized Price Distribution, or URPD. Although Ethereum uses an account-based system, this metric has been adapted to estimate Ethereum’s supply distribution.
It shows that more than 2% of Ethereum’s supply is concentrated between $2,020 and $2,070. These levels also align closely with resistance levels on Ethereum’s price chart.

This creates a critical test. If #Ethereum recovery continues, it must break above $2,050 first and then challenge the $2,140 level. A stronger move could extend toward $2,300.
But because supply is concentrated near $2,020 and $2,070, many holders may sell as ETH approaches these levels. This makes $2,050 the most crucial zone in the short term.
With staking demand falling and whales already selling, absorbing this supply (if it unlocks when the price hits a key level) becomes difficult without strong new demand.

On the downside, the key support level sits at $1,890. This level sits about 4% below the current price. If this support fails, Ethereum could fall back toward its February low near $1,740.
This places $ETH in a risky position. The bullish divergence has opened the door for recovery. But falling staking demand, rising exchange balances, whale selling, and strong cost-basis resistance suggest that returning liquidity may determine what happens next.
This article does not contain investment advice or recommendations. Every investment and trading move involves risk, and readers should conduct their own research when making a decision.
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#Ethereum co-founder Vitalik Buterin has resumed selling portions of his ETH holdings amid recent market pressure. On-chain data shows that he sold around 428 ETH recently, converting approximately $850,100 into stablecoins and other assets such as GHO. This brings his total ETH sales since February 2 to over 7,386 ETH, worth roughly $15.5 million at current prices.
These sales occur while Ethereum trades below the $2,000 level, a key technical point that has drawn attention from both retail and institutional traders. Analysts note that transactions by high-profile holders like Buterin can influence short-term market sentiment, as traders often interpret them as signals of confidence or caution.
However, experts emphasize that these sales may reflect strategic asset management rather than a lack of confidence in Ethereum’s long-term outlook. By reallocating ETH into diversified assets or stablecoins, Buterin could be balancing liquidity needs or preparing for other blockchain projects, such as funding ecosystem initiatives.
This activity highlights the role of on-chain transparency in modern crypto markets. High-profile wallet movements are closely tracked by analysts and market participants, providing insights into market behavior and potential price reactions. While short-term volatility can occur, Ethereum’s broader fundamentals, including network usage, staking growth, and upcoming upgrades, continue to support its long-term prospects.
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Talk of quantum computers no longer sounds like science fiction at crypto events. At a recent developer gathering, the ETH Denver, engineers and security researchers turned their attention to a simple but unsettling question: what happens to Bitcoin if a powerful quantum machine comes online?
Reports have disclosed that new proposals are being folded into the network’s improvement process, laying early groundwork for defenses before any real crisis appears.
Quantum Computing: Why Hashing Is Not The Main Fear
Hashing—what miners and many parts of the system use—gets faster only a bit with quantum tricks. According to Lov Grover’s work, a quantum search method gives a square-root speedup, which changes safety margins but does not wipe them out.
In plain language: to break hashes at scale would need enormous, maybe unrealistic, machines under current models.
Signatures Face The Real Risk
Reports say the bigger worry is signatures. “What we’re worried about in the next five years are signatures, and that goes over with Shor’s,” Hunter Beast, co-author of BIP 360, said during the ETH Denver gathering.
The math behind most wallets today relies on elliptic curves, and Peter Shor showed a way a quantum machine could reverse that math.
That’s how a public key could reveal a private key once the right hardware exists. A blockchain security firm has been tracking addresses that have already exposed their public keys, and the numbers are not tiny.
Blockchain cybersecurity firm Project Eleven’s list flags millions of coins that, if an attacker had a big enough quantum device, would be at risk.
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How Close Are We?
Estimates have been moving. Older papers put the needed resources in the many millions of qubits. More recent research from groups like Iceberg Quantum suggests the figure could be much lower, perhaps into the six-figure range.
Still, raw qubit counts tell only part of the story. What matters is how many “logical” qubits you can run with acceptable error rates, how long calculations take, and whether the machine can stay stable for that time.
Lab steps by big firms also matter; for example, Google has reported progress in error correction that many found encouraging. That doesn’t mean the break-in is imminent, but it does change risk models.
Where The Industry Stands
Reports note teams are forming to study and build defenses. The Ethereum Foundation has a post-quantum group, and major exchanges and firms are taking part in discussions.
Coinbase set up advisers, and its CEO, Brian Armstrong, has said the problem can be handled with planning. It is “solvable”, he said.
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