Home web3.0 Vitalik Buterin Clears the Air on Ethereum Sell-Off

Vitalik Buterin Clears the Air on Ethereum Sell-Off

Sep 01, 2024 am 12:05 AM
ethereum Vitalik Buterin Sell-Off

In 2021, Ethereum co-founder Vitalik Buterin revealed his ETH holdings on the social media platform Reddit. He stated that his ETH holdings

Vitalik Buterin Clears the Air on Ethereum Sell-Off

Ethereum co-founder Vitalik Buterin has addressed concerns regarding a lack of explanation about his Ethereum holdings over the past few years.

In 2021, Buterin revealed his ETH holdings on Reddit, stating that his holdings originated from the pre-mine, totaling 11.9 million ETH, out of which he received 700,000 ETH coins.

However, recent data from Arkham Intelligence shows that Buterin now holds 240,000 ETH, which marks a 60% drop from his peak holdings, now down to 423,000 ETH. At present, the value of Buterin’s Ethereum holdings stands at $1.06 billion.

This has led to questions within the ETH community about why Buterin sold off his massive ETH holdings in just three years. Responding to this, Buterin stated that he hasn’t sold any of his Ethereum holdings for personal gain since 2018.

He highlighted that all of his ETH sales have been directed towards projects he finds valuable, either within the Ethereum ecosystem or for broader charitable causes, such as biomedical research and development.

To clear up any misunderstanding regarding his ETH transactions, Buterin also previously stated on Warpcast that it was not a case of him selling ETH for personal profit. Instead, these transfers are usually donations to charities, non-profits, or other projects, with the recipients selling the ETH to cover their operational expenses.

The Ethereum price has been recently trading around $2,500, forming a strong base at these levels. Popular analytics platform CryptoQuant recently stated that despite the decline over the past five months, Ethereum has maintained its position above its realized price. And it is now acting as a key support level.

Historically, altcoin bull markets often begin when ETH’s market price is stronger than its realized price, indicating potential for future gains in the broader altcoin market.

The platform shared its analysis on Twitter, highlighting that Ethereum is still in a bullish trend despite the price drop this year.

“#Ethereum hasn’t lost the realized price it broke through despite the sharp price decline over the past five months, and the realized price is acting as support.

Historically, altcoin bull markets have started when Ethereum is stronger than its… pic.twitter.com/CDiKFldfA5

Moreover, popular crypto analyst Michael van de Poppe opined on X that the bullish divergence on Ethereum remains in play. A key level to watch is 0.042 BTC for ETH; holding this support could signal another upward move. With ETF flows stabilizing and beginning to turn positive, could a green September be on the horizon?

The above is the detailed content of Vitalik Buterin Clears the Air on Ethereum Sell-Off. For more information, please follow other related articles on the PHP Chinese website!

Statement of this Website
The content of this article is voluntarily contributed by netizens, and the copyright belongs to the original author. This site does not assume corresponding legal responsibility. If you find any content suspected of plagiarism or infringement, please contact admin@php.cn

Hot AI Tools

Undresser.AI Undress

Undresser.AI Undress

AI-powered app for creating realistic nude photos

AI Clothes Remover

AI Clothes Remover

Online AI tool for removing clothes from photos.

Undress AI Tool

Undress AI Tool

Undress images for free

Clothoff.io

Clothoff.io

AI clothes remover

Video Face Swap

Video Face Swap

Swap faces in any video effortlessly with our completely free AI face swap tool!

Hot Tools

Notepad++7.3.1

Notepad++7.3.1

Easy-to-use and free code editor

SublimeText3 Chinese version

SublimeText3 Chinese version

Chinese version, very easy to use

Zend Studio 13.0.1

Zend Studio 13.0.1

Powerful PHP integrated development environment

Dreamweaver CS6

Dreamweaver CS6

Visual web development tools

SublimeText3 Mac version

SublimeText3 Mac version

God-level code editing software (SublimeText3)

Top Crypto ICO Rivals DeFi Giants: IntelMarkets Takes the Crypto Trading World by Storm Top Crypto ICO Rivals DeFi Giants: IntelMarkets Takes the Crypto Trading World by Storm Nov 10, 2024 am 09:24 AM

IntelMarkets is making waves in the crypto space, setting its sights on top rivals with a unique offering aimed at transforming crypto trading.

WallitIQ (WLTQ) To Rival The Meme Coin Hype Cycle WallitIQ (WLTQ) To Rival The Meme Coin Hype Cycle Nov 14, 2024 pm 12:38 PM

The ongoing rivalry between Shiba Inu (SHIB) and Dogecoin (DOGE) has captured the attention of investors. As both projects continue to build, SHIB's lead dev recently proposed a challenge to the Ethereum founder and urged recognition of Shiba Inu (SH

Shytoshi Kusama Seeks Meeting with Vitalik Buterin to Expand SHIB Ecosystem Shytoshi Kusama Seeks Meeting with Vitalik Buterin to Expand SHIB Ecosystem Nov 08, 2024 am 09:46 AM

It would appear that the Shiba Inu (SHIB) ecosystem's creator, the anonymous Shytoshi Kusama, is hell-bent on expanding it.

The Hidden Forces Shaping Ethereum's Future: Unseen Opportunities and Perils The Hidden Forces Shaping Ethereum's Future: Unseen Opportunities and Perils Oct 27, 2024 pm 06:20 PM

Emerging Trends Beyond Resistance Levels While Ethereum's resistance level is captivating the attention of traders and analysts alike, there are more

The All-Sports Meme Token You Can't Afford to Bench! The All-Sports Meme Token You Can't Afford to Bench! Nov 03, 2024 pm 06:36 PM

XYZ is your exclusive VIP pass to a sports-driven, meme-fueled revolution. Think of it as the MVP of the XYZVerse ecosystem

Ethereum White Paper Anniversary: Reflecting on 11 Years of Transforming Technology, Finance, and Decentralization Ethereum White Paper Anniversary: Reflecting on 11 Years of Transforming Technology, Finance, and Decentralization Nov 05, 2024 pm 03:02 PM

On the 11th anniversary of the release of Ethereum’s white paper, it’s worth reflecting on how this pivotal document has transformed technology, finance, and our very concept of decentralization.

Crypto Analyst Michaël van de Poppe Says Ethereum (ETH) May Be Gearing Up for a Massive Breakout Against Bitcoin (BTC) Crypto Analyst Michaël van de Poppe Says Ethereum (ETH) May Be Gearing Up for a Massive Breakout Against Bitcoin (BTC) Nov 08, 2024 am 06:52 AM

In a new strategy session, trader Michaël van de Poppe tells his 733,600 followers on the social media platform X the Ethereum/Bitcoin pair (ETH/BTC) is showing a bullish divergence on the daily chart.

Ethereum vs Cardano: Which Cryptocurrency Has the Most Potential? Ethereum vs Cardano: Which Cryptocurrency Has the Most Potential? Nov 06, 2024 am 06:08 AM

In the ever-evolving world of cryptocurrency, identifying which digital asset holds the most potential can be complex. While Bitcoin continues to reign as the first and