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Vitalik Buterin Back on Dumping his Ethereum? It Could Crash ETH into Double-Digits

#1
[color=rgba(0, 0, 0, 0.8)]A total of 214,953 Ether worth about $26.8 million has been sent to cryptocurrency exchanges on Dec. 25.

ViewBase, blockchain analysis company reported 99,987 of these Ether has been sent to Huobi, 89,058 ETH to Kraken, and 25,908 ETH to Binance.
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The 90k of Ether sent to Kraken particular originated from a single whale which received most of its Ether from Ethereum co-founder Vitalik Buterin’s wallet address. This wallet still has a balance of 350,000 Ether left.
The firm deduced that the whale is likely to be an Ethereum developer or Buterin himself.
Is Buterin dumping his Ethereum?
According to the Reddit post, Buterin previously revealed that he received a total of 630,000 ETH, 553,000 out of which has been from the genesis pre-mine and 150,000 from the developer purchase program.
In April 2016, he sold 25% of his ETH position as he divulged, “I've sold about a quarter of my ETH. Meh, I am not going to apologize for sound financial planning.” As per this, he sold about $1.1 million's worth.
Just like other founders, such as Charlie Lee of Litecoin who sold all of his LTC during the last bull run, Buterin than sold another of his 30,000 ETH around the top in December 2017.
As we reported, Buterin also persuaded Ethereum Foundation to sell 70,000 of their ETH at its peak.
Now, 90k ETH has been moved by Buterin again.
Chances of crashing to double digits
Eth currently is trading at $125, down 8% on a year-to-date basis and down 92% from its all-time high of $1,570.
But such a huge amount of ETH, if dumped in the market, would put selling pressure on the second-largest cryptocurrency that could see its price sliding even more.
Currently, analysts and traders aren’t feeling very bullish about it either...


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#2
(12-27-2019 10:03 AM)Baff1 Wrote: A total of 214,953 Ether worth about $26.8 million has been sent to cryptocurrency exchanges on Dec. 25.

ViewBase, blockchain analysis company reported 99,987 of these Ether has been sent to Huobi, 89,058 ETH to Kraken, and 25,908 ETH to Binance.

[Image: d9fc9a528f2951a3c06a9.png]
        

The 90k of Ether sent to Kraken particular originated from a single whale which received most of its Ether from Ethereum co-founder Vitalik Buterin’s wallet address. This wallet still has a balance of 350,000 Ether left.
The firm deduced that the whale is likely to be an Ethereum developer or Buterin himself.
Is Buterin dumping his Ethereum?
According to the Reddit post, Buterin previously revealed that he received a total of 630,000 ETH, 553,000 out of which has been from the genesis pre-mine and 150,000 from the developer purchase program.
In April 2016, he sold 25% of his ETH position as he divulged, “I've sold about a quarter of my ETH. Meh, I am not going to apologize for sound financial planning.” As per this, he sold about $1.1 million's worth.
Just like other founders, such as Charlie Lee of Litecoin who sold all of his LTC during the last bull run, Buterin than sold another of his 30,000 ETH around the top in December 2017.
As we reported, Buterin also persuaded Ethereum Foundation to sell 70,000 of their ETH at its peak.
Now, 90k ETH has been moved by Buterin again.
Chances of crashing to double digits
Eth currently is trading at $125, down 8% on a year-to-date basis and down 92% from its all-time high of $1,570.
But such a huge amount of ETH, if dumped in the market, would put selling pressure on the second-largest cryptocurrency that could see its price sliding even more.
Currently, analysts and traders aren’t feeling very bullish about it either...


Reply