2023-05-06 13:17:41
Blockchain tracking platform Lookonchain has reported that Vitalik Buterin transferred nearly $500 billion worth of Ethereum to a popular exchange.
And following that, the Ethereum Foundation did the same. by transferring Ethereum to the same exchange which was transferred to the value of almost $ 30 million.
meanwhile The Ethereum price has briefly surpassed $2,000, and blockchain analytics firm Santiment believes Ethereum is on the verge of breaking above $2,000 once once more.
Buterin and ETH Foundation Sell Ethereum
Lookonchain reports that Vitalik transferred 200 ETH, equivalent to $400,000, to the Kraken exchange, and the Ethereum Foundation later transferred 15,000 ETH to the Kraken exchange.
By combining the two sources of Ethereum, Buterin will be able to sell Ethereum for over $30 million.
Buterin appears to have previously sold 210 ETH during the $1,545 price range, which earned him $325,000 worth of USDC on the Kraken exchange.
On March 13, he transferred 200 ETH of Ethereum Goes to the Kraken exchange and sells when it hits $1,656.
Ethereum regarding to break $2000
Santiment reported on Friday that Ethereum transfers hit an eight-month high, and analysts believe this might be a sign of volatility that might repeat the FTX bankruptcy in November and The Merge upgrade in mid-month. September
Santiment adds that a large number of coins have been transferred to exchanges lately. This was the highest number since November last year. And this might be a sign that Ethereum won’t follow Bitcoin and it might break through $2,000.
In addition, this past week was the most burned week for Ethereum on record. And that might be a result of the meme coin boom right now. Most of the meme coins run on the Ethereum network, which requires Ethereum to be used for transactions. Which is why Ethereum gets burned a lot.
Source: U.Today
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