Ethereum Creator Vitalik Buterin Continues to Sell ETH, Raising Concerns Among Traders
Ethereum creator Vitalik Buterin has been selling off large amounts of ETH and other tokens, which is putting pressure on the price of ETH. Recently, his wallet address (Vb 2) transferred a total of 278 ETH to another wallet address. This follows previous transfers where Buterin moved 300 ETH to the Kraken exchange and swapped MKR tokens for 350 ETH.
Concerns Over SEC Corruption and ICO Participant Selling
Amid allegations of corruption related to Ethereum’s initial coin offering (ICO), an ICO participant sold 6,000 ETH to Kraken. Additionally, a whale deposited 30,000 ETH across Binance, OKX, and KuCoin. These transactions have raised questions among traders.
Possible Impact on ETH Price
The movement of ETH by Vitalik Buterin and the Ethereum Foundation has historically led to a fall in ETH price. While the reason behind these recent transfers remains unknown, some speculate that another significant selloff by Buterin may occur.
ETH Price Falls Below $1600
In recent transfers, Buterin moved 3,000 ETH worth $5 million to his wallet address “vitalik.eth” and sent 600 ETH to Coinbase. Currently, the price of ETH is trading at $1593, showing some upward movement after a recent dip. The trading volume has decreased by 22% in the past 24 hours.
Hot Take: Possible Market Impact of Buterin’s Selling
Vitalik Buterin’s frequent selling of ETH and other tokens may be contributing to the downward pressure on the price of Ethereum. Traders are concerned about the potential for more significant selloffs and the impact on the market. It remains to be seen how these transfers and market movements will affect the overall sentiment towards ETH and its price in the future.
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