According to the latest news, the treasures of Coinbase reportedly has around 1.68 million ether Right now. That’s about $2.69 billion. Why does Vitalik Buterin, the co-founder of Ethereum, continue to supply this American crypto exchange in ETH ? The crypto community is once again wondering about the subject. Overview !
Vitalik Buterin parts with his ETH crypto again
Vitalik, one of the fathers of Ethereum, is rich with around 244,000 ETH. At the beginning of September, when he started a series of transfers native tokens of this blockchain, the crypto community has given in to the panic. 31,000 ETH actually came out of his crypto-wallet. And this did not fail to negatively affect the price of ether.
“ According to EmberCN, Vitalik’s address transferred 400 ETH ($0.63 million) to Coinbase today. Over the last 7 days, Vitalik’s address transferred 300 ETH to Kraken; and 200 ETH were converted to USDC. »
U°Today, which relied on data shared by LookOnChain, relayed this information on recent cryptocurrency transfers from Vitalik Buterin. According to this blockchain specialist, Ethereum strongman deposited 400 ETH, the equivalent of $632,000, to Coinbase.
This can be compared to simple routine activities for Vitalik. Given that he already sent 300 ETH to Coinbase in mid-August and 600 ETH in early September. Addresses belonging to Bitstamp and Kraken have also seen large amounts of cryptocurrency transactions from the Ethereum co-founder.
And this without taking into account the conversion of some 200 ETH into USD Coin (USDC), Coinbase’s native crypto.
Fears of an imminent drop in the price of ether
From the start of these questionable transfers of cryptocurrencies to crypto-exchanges, observers have already sounded the alarm. Above, we have already mentioned a fall of ETH following a similar initiative from Vitalik Buterin.
This time, some crypto analysts pointed out that Ethereum remains strangely stable at the moment.
In the future, the price of ETH could fall again.
According to Immortal Crypto, it could fall back to between $1,300 and $1,500 in the coming weeks.
However, the latter still believes in an ETH bull run in the near future.
“ I think that ETH will surpass BTC at some point, but not like in the previous cycle », we can read in the columns of BeInCrypto.
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