The co-founder of Ethereum Vitalik Buterin transferred 600 ETH ($1,000,000) to the coinbase on 21 August. On 20 August, Buterin returned the RAI and $1.6million worth of Ethereum withdraws from his account (RAI is the stablecoin which is linked with Ethereum). This action is a big deal in the cryptocurrency world because Vitalik Buterin is the most important person in blockchain technology.
People in the cryptocurrency world talk and guess about it, they think why he did it because Vitalik has not said why he transferred Ethereum. Buterin moves some Ethereum from his wallet but according to Ether scan he still holds about $6.5 million Ethereum.
What does the Ethereum transfer mean amidst a bearish market?
Whenever the founder of Ethereum Buterin moves their Ethereum token from his wallet then may be the price of Ethereum fall down. We don’t know why he moves his token, it may be possible he moves their tokens for one time sale. Experts of this market have said that Ethereum dropped its value which is between $1,550 & $1,600.
All the cryptocurrencies’ values fell down 10% in the past week. Now, the worth of all combined cryptocurrencies is around $1.05 trillion. The value of coinbase also fell 9% in the past week and the worth of coinbase is $73.9 per share.
You Might Also Like
- Read Also: Best Web3 Coins To Invest In
- Read Also: Best Low Cap Crypto To Buy Now
- Read Also: Best Crypto Utility Tokens
- Read Also: Best Crypto To Buy Right Now Reddit
- Read Also: Best Crypto Under $1
- Read Also: Best Penny Crypto Coins To Invest In
- Read Also: Best Shitcoins To Buy Right Now
- Read Also: Best Crypto Presale To Buy Now
- Read Also: Best Low Supply Cryptocurrency
- Read Also: Best DeFi Coins To Buy Now
- Read Also: Best Altcoins To Invest In Right Now
- Read Also: Best Crypto ICO To Invest In
- Read Also: Next Crypto To Explode In 2023
- Read Also: Best Cryptocurrency Coins To Buy
- Read Also: New Cryptocurrencies To Invest In