Ethereum Faces Pressure as Co-Founders Sell Large ETH Holdings

Ethereum (ETH) is under pressure as co-founders Jeffrey Wilcke and Vitalik Buterin reduce their holdings, adding to market concerns. Wilcke reportedly sold 79,258 ETH, valued at approximately $157 million, moving funds to the Kraken exchange after seven months of inactivity. His wallet still holds around 27,421 ETH, worth about $54 million.

The ETH price has struggled to maintain levels above $2,000, trading around $1,976 after briefly rallying from $1,900–$1,950 to nearly $2,180 earlier this week. Analysts note that the next key support zone for Ethereum lies between $1,850 and $1,900, with immediate resistance at the psychological $2,000 mark and additional resistance in the $2,040–$2,080 range. Treasury companies have slowed Ethereum purchases as the token trends lower, further affecting price momentum.

Broader market conditions have also impacted Ethereum. Rising geopolitical tensions in the Middle East have pushed oil prices higher, with traders predicting a surge to $100, weakening digital assets. Ethereum spot ETFs recorded significant outflows, with FETH alone seeing $67.5 million withdrawn in a single day, contributing to total net outflows of $82.85 million.

Vitalik Buterin also sold 17,196 ETH in February, representing about seven percent of his holdings. His balance now stands at roughly 224,000 ETH, down from over 240,000 at the start of 2026. Meanwhile, an Ethereum ICO wallet transferred 100.275 ETH after 10.6 years of inactivity, turning an initial $124 investment into approximately $835,000.

These high-profile Ethereum sales, combined with volatile market conditions and ETF outflows, highlight growing uncertainty around the cryptocurrency. Traders are closely watching price movements below the $2,000 mark, signaling cautious market sentiment.