Essential Insights
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Vitalik Buterin’s ETH Sell-Off: Ethereum co-founder has resumed selling ETH, withdrawing 3,500 ETH (approx. $7 million) from Aave, following the sale of 571 ETH ($1.13 million) earlier.
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Recent History of Sales: Buterin sold a total of 6,183 ETH (valued at $13.2 million) in early February alone, with previous reports highlighting a consistent pattern of significant disposals.
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Current ETH Holdings: Despite the sell-offs, Buterin still possesses over 240,000 ETH (valued around $467 million), although this number is subject to change after recent sales.
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Market Analysis: ETH’s price has been on a downward trend, struggling to maintain levels above $2,000, with some analysts warning of potential corrections to under $1,400 in the near future.
Vitalik Buterin Dumps Even More ETH as Prices Struggle Below $2K
Ethereum co-founder Vitalik Buterin continues his selling spree, generating buzz in the crypto community. Recently, he withdrew another 3,500 ETH from Aave, valued at approximately $7 million. Just hours prior, he sold 571 ETH for about $1.13 million. This activity marks a return to selling after a two-week pause.
On-chain data from Arkham Intelligence and Lookonchain confirms these transactions. Reports indicate Buterin has offloaded a total of 6,183 ETH in February alone, translating to over $13.2 million. The average sale price hovered around $2,140.
Despite these sales, Buterin still retains more than 240,000 ETH, worth around $467 million before today’s sell-offs. Analysts continue to watch his actions closely, recognizing the influence Buterin has on market sentiment.
Meanwhile, Ethereum struggles to maintain its value. After peaking near $5,000 last August, it crashed to nearly $1,800 in early February. Although it has seen slight recovery, it remains beneath the $2,000 mark.
Analyst Ali Martinez pointed out a potentially troubling chart formation. He noted an inverted bullish flag that suggests Ether could face another drop, possibly falling below $1,400.
Investors and developers alike keep an eye on Buterin’s moves. His decisions, while significant, also reflect broader market challenges. As the technology develops, these fluctuations highlight the complexities of cryptocurrency investing.
With ongoing innovations, the Ethereum network remains a unique player in the blockchain space. Its ability to solve real-world problems continues to draw interest, despite recent volatility.
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