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Vitalik Buterin’s wallet activity drew attention after Arkham tracked nearly $800,000 in $ETH swaps into stablecoins via CoW Protocol. Meanwhile, $ETH bounced to about $1,915 after tapping higher time frame support, with the chart showing a double bottom setup.
Vitalik Buterin Executes Series of $ETH Swaps via CoW Protocol
Vitalik Buterin moved large amounts of ether through CoW Protocol settlement contracts on Ethereum today, with onchain records showing repeated swaps between WETH and stablecoins. Arkham flagged the activity after tracking transfers tied to a Gnosis Safe Proxy wallet labeled to Buterin. The transactions appeared in short intervals over several hours, with each leg routed through CoW Protocol’s settlement address.
Vitalik Buterin $ETH Swaps. Source: Arkham / X
The onchain data shows multiple WETH outflows paired with inbound stablecoins, including USDTB, GHO, and PYUSD. Individual trades ranged from roughly 23 to 45 WETH per swap, with dollar values around $43,000 to $84,000 at the time of execution. Taken together, the series of swaps added up to nearly $800,000 worth of $ETH exchanged for stablecoins across the session, based on Arkham’s tracking and the USD values displayed on the ledger.
The pattern suggests a batch of routed trades rather than a single market order. CoW Protocol aggregates orders and settles them through its solver network, which can split large swaps into smaller legs to reduce price impact. The use of a Gnosis Safe also indicates treasury-style wallet management rather than retail behavior, since multisig safes often serve operational or custody purposes.
The transfers do not, by themselves, indicate where the proceeds will move next. However, the choice of stablecoins points to a conversion into dollar-pegged assets rather than movement to another volatile token. The activity occurred as $ETH traded in a tight intraday range, with no immediate, visible price reaction tied to the individual settlements on public charts.
Ethereum Tests Support as Price Rebounds Toward $1,915
Ethereum traded near $1,915 on the $ETH/$USDT chart as price rebounded from a higher time frame support zone marked near the lower end of the recent range. The chart shared by K A L E O on X shows $ETH falling into a descending channel before pushing back toward the upper boundary. The latest candles show a sharp bounce from the local lows, with price recovering into the mid-$1,900 area after briefly dipping closer to the high-$1,700s to low-$1,800s zone.
Ethereum Double Bottom at HTF Support. Source: CryptoKaleo
The structure on the chart highlights two recent lows near the same support band, forming a double bottom at higher time frame support. After the second test, price reversed and moved higher, breaking above the short-term downtrend line inside the channel. That rebound places $ETH back near prior consolidation levels, where price spent time trading sideways earlier in the session.
The broader context on the chart shows $ETH moving in a wide, choppy range since the prior selloff from above $2,000. Lower highs formed across recent swings, while buyers defended the lower boundary near the marked support. The latest rebound reduces immediate downside pressure near that zone, although price still trades below the earlier range highs closer to $2,000.