Ethereum Price Down 10% Since Vitalik Sold $500K of ETH, Questions L2s Role
The post Ethereum Price Down 10% Since Vitalik Sold $500K of ETH, Questions L2s Role appeared on BitcoinEthereumNews.com.
Key Notes Vitalik Buterin sold 211.84 ETH ($500k) to the Kanro Fund, a charity supporting health, AI safety, and open-source research. ETH declined nearly 10% post-announcement, trading at $2,117 with 31% lower trading volume indicating low-liquidity volatility. Buterin’s post argued the “rollup-centric” L2 vision no longer aligns with current realities, proposing instead a spectrum of solutions with differentiated value beyond pure scaling. The price of Ethereum’s native token, Ether, is down 7% in a 24-hour time frame, happening after Vitalik Buterin sold $500,000 worth of ETH and made a post questioning the role of Layer 2s (L2s) in scaling Ethereum. On Feb. 2, Lookonchain posted an analysis claiming Vitalik Buterin, Ethereum creator, sold 211.84 ETH for 500,000 USDC and moved the half million dollars to Kanro. Interestingly, the Kanro Fund has a token, KANRO, that operates as a memecoin with a charitable purpose—where a percentage of every transaction is allocated to fund global health, AI safety, and open-source research through the Kanro charity, founded by Buterin himself. vitalik.eth(@VitalikButerin) sold 211.84 $ETH for 500,000 $USDC ~20 minutes ago and transferred the 500,000 $USDC to Kanro. pic.twitter.com/sF7TNmIsrK — Lookonchain (@lookonchain) February 2, 2026 Data gathered from CoinMarketCap shows that 25 hours after this post, ETH is down nearly 10% in the day, trading at $2,117 per token. This is a significant 24-hour drop for the second-largest cryptocurrency by market cap, currently valued at $255 billion. Nevertheless, the Ethereum ETH $2 192 24h volatility: 6.1% Market cap: $264.56 B Vol. 24h: $41.50 B trading volume is down 31% from what was seen yesterday, suggesting low-liquidity-driven volatility. Ethereum (ETH) 24-hour price chart, as of Feb. 3, 2026 | Source: CoinMarketCap Vitalik Buterin Questions Role of L2s for Scaling Ethereum In an interesting turn of events, a recent post from Vitalik Buterin added fuel to…
Filed under: News - @ February 3, 2026 8:28 pm