Tension as Vitalik Buterin Plans a Massive Ethereum Sale

News / 26.12.2019

On the 25th of December, crypto market participants focused on Vitalik Buterin to fear his plans to sell Ethereum worth 25 million USD. As per Etherscan on the 25th of December, an aggregate of 92k of Ethereum, currently equivalent to 11.5 million USD, moved from one wallet to the United States exchange Kraken.

ViewBase tweeted about the wallet containing more than 300k ETH before the transaction. Similarly, the same wallet received the majority of its content from Buterin for many years before now. ViewBase maintained that the whale could be Ethereum developers of Buterin. Moreover, Huobi and Binance were able to get an additional 99,987 ETH and 25 908 ETH, respectively. These three transactions are worth 25.5 million USD altogether.

Emerging Reports on the Vast Ethereum Sale

People responded to the Viewbase’s tweet, raising concerns about the plans of a significant sell-off by Vitalik Buterin or an associated investor. Buterin is yet to participate in the discussion that stands as the third round of rumors concerning ETH liquidation. 

Recently, in an interview, Buterin mentioned his orchestration of the sale of 70k, worth 100 million USD, last year. It was during the time the price of ETH got close to its all-time high. Another report mentioned the transfer of 789k ETH between two wallets under the control of plus token. This report equally led to additional concerns.

Experts continue to become hostile towards ETH as this year comes to a close. ETH will experience two hard forks in weeks ahead, and a renowned Bitcoin supporter known as Udi Wertheimer described it as absurd. Ethereum’s price against USD recently slumped by almost 17% since this month started. Based on the price of ETH at the moment, it is down by more than 60% against its highest price of $ 335 this year.

Born in Bucharest, Marius is the founder of Crypto Adventure. Since his first contact with Bitcoin and cryptocurrencies, he never stopped believing that they are one of the most important innovations of our time, which will forever change the way business is done.