-
- Wallet addresses linked to Ethereum founder Vitalik Buterin are on the move, sparking fears of a possible selloff.
- Recent transfers show Buterin’s wallet moving 3,500 ETH worth about $6.56 million to another address.
Ethereum-Linked to Vitalik Buterin: Speculation of a Selloff
Speculation has been growing around Ethereum (ETH) and its founder, Vitalik Buterin, due to recent movements of wallet addresses associated with him. Buterin, a key figure in the blockchain world since co-founding Ethereum in 2014, holds significant influence over the project. Therefore, news related to Buterin and Ethereum tends to create a buzz among investors and traders.
Transfers from Buterin-linked wallet raise questions
According to a tweet by Lookonchain, a wallet address linked to Vitalik Buterin, known as “0xD04d,” recently transferred 3,500 ETH worth approximately $6.56 million to another address called “0x9e92.” This transfer is part of a series of movements from the wallet.
The information further reveals that the Buterin-linked wallet has made a total transfer of 17,800 ETH, equivalent to about $33 million, since December 2022.
Uncertainty surrounds a potential sell-off
Rumors have been circulating about Buterin planning to sell a significant portion of his ETH holdings, which could have a substantial impact on the market. However, it is important to note that there is no official confirmation from Buterin or the Ethereum Foundation regarding any plans to sell Ethereum.
While the speculation persists, it remains unclear how much of an impact a potential sell-off by Buterin would have on the market. Even if he were to sell some of his ETH, the extent of the impact remains uncertain.
It’s worth mentioning that in a recent move, the Ethereum Foundation and Buterin transferred over 15,000 ETH to the Kraken exchange. This move raised concerns and fear, known as FUD (Fear, Uncertainty, and Doubt), in the crypto community, with some speculating that it could lead to a crash in ETH prices and meme coins.
Earlier in March, Vitalik Buterin sold off most of the “shitcoins” in his wallet, including MOPS, CULT, and SHIK, among others. This action drew criticism from the crypto community, as some argued that the selloff negatively impacted low-value projects and the investors who held them.
In conclusion, the movement of wallet addresses linked to Vitalik Buterin has sparked speculation about a potential sell-off of Ethereum. While the transfers raise questions, there is no official confirmation of any sell-off plans. The market impact, if any, remains uncertain. Additionally, previous actions by Buterin, such as selling low-value projects, have drawn criticism in the past. Investors and traders will continue to monitor these developments closely.
[mcrypto id=”12432″]