Vitalik Buterin Plans the Sales of 90,000 ETH; Fear Grips Investors

News / 26.12.2019

Crypto market participants focused on Vitalik Buterin on December 25 due to fears of his plans to sell ETH worth 25 million USD.

According to Etherscan on December 25, an aggregate of 92k ETH (valued at 11.5 million USD at the moment) moved from one wallet to the United States exchange Kraken.

ViewBase tweeted about the wallet containing more than 300k ETH prior to the transaction. Likewise, the same wallet received the majority of its content from Buterin for many years before now.

ViewBase maintained that the whale could be an Ethereum developer or Buterin. Huobi and Binance were able to gain an additional 99,987 ETH and 25,908 ETH, respectively.

The three transactions are worth 25.5 million USD altogether. People responded to the tweet of ViewBase, raising concerns about the plans of a major sell-off by 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.

Some days ago in an interview, Buterin mentioned his personal orchestration of the sale of 70k (worth 100 million USD) last year. It was during the time the price of ETH was close to its all-time high.

A report by Cointelegraph in the previous week mentioned the transfer of 789k ETH between two wallets under the control of PlusToken. The report 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.”

The price of ETH against the USD has slumped by almost 17 percent since this month started. Based on the price of ETH at the moment, it is down by more than 60 percent against its highest price of $335 this year.


Featured image courtesy of Shutterstock. Source: Cryptopress.

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.