1. BITBILIHome
  2. Article

Vitalik Buterin transfers 600 Ether to Coinbase amid rising selling pressure on Ethereum

• 50 views

TL;DR Breakdown

  • Vitalik Buterin transferred 600 Ether (worth over $1 million) to Coinbase, sparking speculation about a potential sale.
  • Ethereum faces increased selling pressure, and Buterin’s move might exacerbate this trend.
  • Buterin has a history of transferring funds to exchanges; in March, he moved 200 ETH to Kraken and sold 439.25 Ether for alternative cryptocurrencies.

Description

Ethereum co-founder Vitalik Buterin has made headlines once again with a significant transaction. Earlier today, Buterin transferred 600 Ether, valued at over $1 million, from his wallet to the popular cryptocurrency exchange Coinbase. The reasons behind this move remain unclear, but such transfers are often interpreted as a precursor to a sale. Moreover, this transfer … Read more

Ethereum co-founder Vitalik Buterin has made headlines once again with a significant transaction. Earlier today, Buterin transferred 600 Ether, valued at over $1 million, from his wallet to the popular cryptocurrency exchange Coinbase. The reasons behind this move remain unclear, but such transfers are often interpreted as a precursor to a sale.

Moreover, this transfer comes when selling pressure on Ethereum has been increasing. Consequently, Buterin’s transaction may further contribute to the price downward pressure on the cryptocurrency.

However, it is essential to note that Buterin has a history of moving funds to cryptocurrency exchanges. In March of this year, he contributed 200 ETH to the Kraken exchange. Around the same time, he sold 439.25 Ether in exchange for various alternative cryptocurrencies.

Additionally, on August 20, the “vitalik.eth” wallet reportedly returned 251,000 RAI on the DeFi platform Maker and withdrew 1,000 ETH, equivalent to about $1.67 million. This information comes from on-chain investigator Lookonchain. Significantly, the “vitalik.eth” wallet was created seven years ago and currently holds 3,993 ETH, or nearly $6.5 million. CryptoSlate, using the Arkham Intelligence dashboard, has verified that the wallet indeed belongs to the Ethereum co-founder.

Besides Ether, the wallet also contains other assets. It holds USD Coin (USDC) valued at $84,000 and Wrapped Ethereum (WETH) valued at $58,000. Hence, Buterin’s recent transfer to Coinbase is not an isolated incident, but part of a broader pattern of transactions.

Buterin’s transaction follows closely after last Thursday’s flash crash in the crypto market. Last week, the price of ETH dropped below $1700 for the first time since June and has remained below that level as of this writing. Currently, ETH is trading with bullish sentiment, showing a price increase of 0.07% and trading at $1,674.79.

Disclaimer. The information provided is not trading advice. Cryptopolitan.com holds no liability for any investments made based on the information provided on this page. We strongly recommend independent research and/or consultation with a qualified professional before making any investment decision.

文章来源于互联网:Vitalik Buterin transfers 600 Ether to Coinbase amid rising selling pressure on Ethereum

Disclaimers:

1. You are solely responsible for your investment decisions and this info is not liable for any losses you may incur.

2. The copyright of this article belongs to the writer, it represents the writer's opinions only, not represents the site's ones. Not financial advice.

Previous 2023年8月22日 06:19
Next 2023年8月22日 07:22

Related articles

  • SBF shocking bail request: will he get special treatment for ‘close friends?’

    TL;DR Breakdown SBF wants his “close friends” to be able to visit him at his parents’ home without having to go through the court-ordered security measures currently in place. The security measures outlined in Bankman-Fried’s bail conditions require a security guard to be present at the house to screen visitors for electronic devices, as well as having visitors sign an electronic visitor log.  As part of his current bail conditions set by Judge Kaplan, Bankman-Fried is allowed limited use of a laptop that can only access court-approved sites, including selected news sites and YouTube.  Description Sam Bankman-Fried, the former CEO of FTX, has recently requested a modification to his bail conditions in a letter to New York District Court Judge Lewis Kaplan. The letter states that SBF wants his “close friends” to be able to visit him at his parents’ home without having to go through the court-ordered security measures … Read more Sam Bankman-Fried, the former CEO of FTX, has recently requested a modification to his bail conditions in a letter to New York District Court Judge Lewis Kaplan….

    Article 2023年7月15日

  • The State of Capitalism in the U.S.: A Deep Dive into the Crypto Controversy

    TL;DR Breakdown John E Deaton, a prominent figure in the crypto industry, argues that the U.S. operates under a system of corporate capitalism, not true capitalism, which discriminates against the working class. Deaton criticizes the accredited investor rules, which he believes disproportionately favor the wealthy and limit opportunities for the average citizen. He argues that despite the heated rhetoric between Democrats and Republicans, each election changes little, citing the bailouts of car companies and banks as evidence. Deaton sees potential in the crypto industry, praising the concept behind Bitcoin, which allows anyone with a smartphone to participate in free markets without the need for banks or middlemen. He calls for a true capitalist system in the U.S., believing that until term limits are implemented and the two-party system is ended, the status quo will remain.   Description For years, the United States has been hailed as a beacon of capitalism. However, according to John E Deaton, a prominent figure in the crypto industry, the reality is far from this ideal. In a recent tweet, Deaton expressed his belief that the…

    Article 2023年7月30日

  • Bank of America reveals top AI chip war winners

    TL;DR Breakdown Nvidia is the leading player in the AI chip industry, according to Bank of America. Marvell Technology and Broadcom, networking chip manufacturers, are also expected to benefit from long-term demand in Ethernet networking. Demand for faster data speeds could create a $1.4 billion opportunity in optical interconnect space, where Marvell holds more than a 75% market share. Description The landscape of artificial intelligence (AI) in the semiconductor industry is evolving, with Nvidia continuing its reign in the sector. However, the lens is also shifting towards networking chip manufacturers, Marvell Technology and Broadcom, who are projected to reap benefits from the long-term demand for their Ethernet networking offerings. This is according to recent analysis … Read more The landscape of artificial intelligence (AI) in the semiconductor industry is evolving, with Nvidia continuing its reign in the sector. However, the lens is also shifting towards networking chip manufacturers, Marvell Technology and Broadcom, who are projected to reap benefits from the long-term demand for their Ethernet networking offerings. This is according to recent analysis by Bank of America. The rising importance…

    Article 2023年6月25日

  • North Korean-linked Bitcoin wallets contain $40 million from recent hacks, FBI warns

    TL;DR Breakdown FBI identifies six Bitcoin wallets linked to North Korean hackers, suspected to hold $40 million in stolen crypto. The FBI urges caution as stolen funds may be sold, calling for monitoring of blockchain data related to flagged addresses Description The FBI has identified six Bitcoin wallets believed to be connected to North Korean hacking groups Lazarus Group and APT38. These wallets are suspected to hold more than $40 million in stolen cryptocurrency. The funds are thought to have been taken from a series of high-profile hacks, including a $60 million theft from payment processor … Read more The FBI has identified six Bitcoin wallets believed to be connected to North Korean hacking groups Lazarus Group and APT38. These wallets are suspected to hold more than $40 million in stolen cryptocurrency. The funds are thought to have been taken from a series of high-profile hacks, including a $60 million theft from payment processor Alphapo and a $100 million exploit of Atomic Wallet. The FBI’s findings indicate that the Lazarus Group has been actively moving the stolen Bitcoin. There is…

    Article 2023年8月24日

  • US Congressman Warren Davidson urges for a ban on central bank digital currencies (CBDCs)

    TL;DR Breakdown US Congressman Warren Davidson has called for the ban and criminalization of Central Bank Digital Currencies (CBDCs), expressing concerns over potential coercion and control. Davidson’s call came in response to a job posting by the Federal Reserve Bank of San Francisco for a “senior crypto architect” to work on a CBDC project, which he likened to “building the financial equivalent of the Death Star.” Despite the controversy, the Federal Reserve continues to research the technology for a potential digital dollar, and the debate over CBDCs is expected to intensify as more countries explore their implementation. Description In a recent development, U.S. Congressman Warren Davidson has taken a firm stance against central bank digital currencies (CBDCs), urging Congress to not only ban them but also criminalize any efforts to design, build, develop, test, or establish such a currency.  In a July 23 post on Twitter, the Republican Representative’s call to action comes … Read more In a recent development, U.S. Congressman Warren Davidson has taken a firm stance against central bank digital currencies (CBDCs), urging Congress to not only…

    Article 2023年7月24日
TOP