After ETH sales worth millions last month, Vitalik Buterin sold an additional 278 ETH, causing the ETH price to plunge below $1600.
Vitalik Buterin, the creator of Ethereum, continues to sell ETH and additional tokens more frequently, causing the price of ETH to remain under duress. Vitalik wallet address (Vb 2) just transferred a total of 278 ETH to the wallet address commencing with.
According to Etherscan data, the Vb 2 wallet associated with Vitalik Buterin has sent 278 ETH to 0x3F62 in three separate transactions. A transaction involving 200 ETH is followed by two smaller transactions involving 68 ETH and 10 ETH.
Recent transfers of ETH from Vitalik Buterin’s wallet to an exchange have sparked concern among traders even though the value of these transactions is not even in the millions.
Vitalik , co-founder of Ethereum, recently transferred 300 ETH worth roughly $493k to the cryptocurrency exchange Kraken. Also, this week, Lookonchain reported that a whale deposited 30,000 ETH worth nearly $50 million on the cryptocurrency exchanges Binance, OKX, and KuCoin.
Meanwhile, a participant in the ETH ICO sold 6,000 ETH to Kraken for nearly $10 million. The transaction occurring amidst allegations of SEC corruption about the initial coin offering (ICO) for Ethereum (ETH) raises concerns.
Vitalik Buterin, the creator of Ethereum, exchanged MKR tokens for 350 ETH for the first time in two years. He then sent the 350 ETH to the address 0x3F62.
Typically, when Vitalik Buterin and the Ethereum Foundation transfer ETH, the price of ETH decreases. While the reason for the recent transfer remains mysterious, some believe it was Vitalik Buterin’s latest massive sale.
Price of ETH Falls Below $1600
At the end of August, Vitalik Buterin transferred 3,000 ETH worth nearly $5 million to the Vb 2 wallet address using “vitalik.eth.” This transfer follows Buterin’s recent transfer to the cryptocurrency exchange Coinbase of 600 ETH worth nearly $1 million.
The price of ETH is currently $1593, a rise following a 24-hour decline. The 24-hour minimum and minimum are $1,573 and $1,601 each. Twenty-four hours ago, the trading volume decreased by 22%, indicating a lack of interest among traders.
