TL;DR
- Vitalik Buterin sold 2 trillion DOG tokens for 4.43 ETH and still holds over 400 tokens in his wallet, including WHITE, valued at more than $8 million.
- The Ethereum Foundation transferred another 1,000 ETH, bringing total transfers to a single address over the past month to 9,000 ETH.
- Spot ETFs recorded $26.4 million in outflows, while derivatives show a bearish bias ahead of expiries totaling $2.3 billion.
Vitalik Buterin liquidated 2 trillion DOG tokens and exchanged them for 4.43 ETH, a move that once again stirred debate about the management of assets in his personal wallets.
Vitalik typically sells memecoins he receives unsolicited. This time, he converted the DOG tokens — in their ERC-20 version — into Ethereum, worth around $10,800. His wallet still holds over 400 tokens, including WHITE, valued at more than $8 million, and 30 billion MOO DENG.
#PeckShieldAlert #vitalik.eth – labeled address swapped 2T $DOG for ~4.43 $ETH (worth ~$10.8K) pic.twitter.com/VXku4rtGis
— PeckShieldAlert (@PeckShieldAlert) June 27, 2025
At the same time, the Ethereum Foundation transferred 1,000 ETH, about $2.45 million, to address 0xc06. This latest transaction brings the cumulative total over the past month to 9,000 ETH, roughly $23 million.
That wallet had already interacted with Vitalik’s main wallet on May 13. So far, none of these funds have been sold. Although the reason behind the transfers remains unclear, they could be related to internal operations or support for a specific project. The foundation manages a portion of the ETH supply and regularly sells it to finance Ethereum’s ongoing development.
Why Are Vitalik Buterin and the Foundation Worrying the Market?
These types of transactions make ETH holders uneasy. On several occasions, sales by Vitalik or the foundation have coincided with price drops, leading some to interpret them as bearish signals. Meanwhile, Ethereum spot ETFs recorded $26.4 million in net outflows, with Grayscale products accounting for $27.4 million of that total. In contrast, BlackRock, Fidelity, and Bitwise posted minor inflows.
The derivatives market also signals caution. Expiries of 936,000 ETH options are expected, with a notional value of $2.3 billion. The put-call ratio reached 1 in the last 24 hours, reflecting a bearish tilt. The max pain point for buyers is set at $2,200. ETH held steady around $2,445 but saw a 29% drop in daily trading volume.
Despite the bearish pressure, some analysts believe the price could consolidate around these levels before rebounding. The market’s next moves will likely hinge on how institutional demand evolves and how these developments affect overall sentiment.
