Vitalik Is Selling Again — And ETH Just Hit Its Lowest Dominance Since 2020

Vitalik Buterin is dumping ETH. Again. And this time the market noticed. ETH is bleeding at $1,884 (-4.6% in 24h) while its market dominance has cratered to 9.9% — a level we haven't seen since 2020 when ETH was trading at $200.

The Optics Are Brutal

Look, Vitalik has every right to sell his own tokens. But when the co-founder of Ethereum keeps hitting the sell button during a market-wide drawdown, the optics are absolutely terrible. Retail sees the founder selling and thinks: "if he's not holding, why should I?"

ETH vs The Field

The numbers tell a devastating story. While BTC dominance climbs to 56.4%, ETH is losing the narrative war on every front. SOL is faster and cheaper (even at $79.40). L2s like ARB ($0.09) and OP ($0.12) are cannibalizing mainnet fees. Even SUI ($0.89) is stealing developer mindshare.

Total crypto market cap is $2.34T. ETH's share of that pie is shrinking every single day. The flippening narrative is dead. The ultrasound money narrative is dead. What's left?

The Bull Case (If There Is One)

ETH still processes more value than every other chain combined. The staking ecosystem is massive. Institutional adoption via ETFs is real. But none of that matters if market sentiment keeps deteriorating — and with Fear & Greed at 5, sentiment is in the gutter.

ETH needs a catalyst. Vitalik selling isn't it.