Ethereum

when

<ul>
 <li>Ethereum co-founder’s linked wallet sold 190 ETH ($441,971) in 20 minutes, as a part of the 950 ETH ($2. 28 million) that have been sold since late August.</li>  
 <li>The constant sales have led people into wondering what Buterin seeks to achieve from them, be it wealth creation, coin management or market influences.</li>  
 <li>Such transactions are being made at the moment when the market is highly unstable and Ethereum is in a state of price stagnation with a potential for a decline.</li> 
</ul>  
<p>More surprisingly, <a href="https://cryptonewsland.com/vitalik-wallet-sells-760-eth-worth-1-83m-amid-recent-transfers/" target="_blank" rel="noopener noreferrer nofollow">Vitalik Buterin’s</a> linked wallet has recently sold 190 ETH worth $441,971 in only 20 minutes. This latest sale is part of a bigger picture as the same wallet has been selling Ethereum consistently since late August. So far, the wallet has disposed of 950 ETH, which is approximately $2.28 million, and the reasons for such sales are still unclear.</p>  
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  https://twitter.com/lookonchain/status/1833755267713868212
 </div>
</figure>  
<p>These transactions are being closely monitored by market observers, who are asking themselves whether this trend will persist and what it will mean for Ethereum and the rest of the cryptocurrency space.</p>  
<h2 class="wp-block-heading" id="h-gradual-liquidation-or-strategic-moves">Gradual Liquidation or Strategic Moves?</h2>  
<p>The continuous sale has triggered speculation in the cryptosphere. Some users are asking whether Buterin, the ethereum’s co-founders, is dumping his ethereum or there is something more behind these actions. It started with a balance of 3,800 ETH, and the wallet has slowly cashed out huge portions of it as time went by.&nbsp;</p>  
<p>While some consider this as a sign that the price of <a href="https://cryptonewsland.com/will-ethereum-price-reach-50k-as-blockdag-presale-hits-65m-mark-more-on-near-upgrades/" target="_blank" rel="noopener noreferrer nofollow">Ethereum</a> might be susceptible to downward pressure, others think it could be Buterin managing his personal wealth or for charitable causes.</p>  
<h2 class="wp-block-heading" id="h-timing-and-market-implications">Timing and Market Implications</h2>  
<p>The timing of these sales is critical because it occurs when the sentiment in the rest of the cryptocurrency market is volatile. The price of Ethereum has been relatively flat, but large-scale liquidation of the asset could disrupt the market.Ethereum is <a href="https://www.coingecko.com/en/coins/ethereum" target="_blank" rel="noopener noreferrer nofollow">trading</a> at $2,323.11 with a 24-hour trading volume currently at $12,860,071,921. ETH has seen a price drop of 0.7% and its market cap is continuing to drop as new support and resistance levels are being established.</p>  
<p>Market players keep an eye on the wallet activity as significant selling can lead to further market movements. The question now arises whether this selling trend will continue or will decrease in the following weeks.Despite Buterin’s linked wallet still controlling a large volume of ETH it is still uncertain whether there are further pourings planned.&nbsp;</p> 
<p>The post <a href="https://cryptonewsland.com/vitaliks-linked-wallet-offloads-441k-eth-in-20-minutes-is-more-to-come/" rel="noopener noreferrer nofollow">Vitalik’s Linked Wallet Offloads $441K ETH in 20 Minutes—Is More to Come?</a> appeared first on <a href="https://cryptonewsland.com" rel="noopener noreferrer nofollow">Crypto News Land</a>.</p>

Vitalik’s Linked Wallet Offloads $441K ETH in 20 Minutes—Is More to Come?

Table of Contents

Crypto News Land

Other articles published on Sep 11, 2024

Best Cryptocurrencies to Invest in Right Now September 11 – Stellar, IOTA, LayerZero

UK Parliament Defines Cryptocurrency Status

BTC Price Reacts to Last US CPI Data Ahead of FOMC Meeting

Bitcoin drops on Trump-Harris debate, with BTC price down 2.2% pre-CPI

Floki's Valhalla Partners with OG Esports as Official Jersey Sleeve Sponsor

Kenyan geoscientists, Linus Anari and Eileen Mburu win NASA’s Blue Dot challenge

Join our free newsletter for daily crypto updates!