Vitalik Buterin Sends $632K Worth of ETH to Coinbase Amid Sales Preparations!

Author: Mustafa Mulla

Mustafa has been writing about Blockchain and crypto since many years. He has previous trading experience and has been working in the Fintech industry since 2017.

Sep 25, 2023 10:37

Ethereum co-founder Vitalik Buterin has transferred 400 ETH, worth around $632,000, to centralized exchange Coinbase, leading to speculation that sales preparations are being made. Meanwhile, on-chain activity, sentiment, and the price of the cryptocurrency have all been dwindling. The asset’s price, sentiment, and momentum remain flat and did not move in line with bitcoin last week. Observers have noted a decline in the number of ETH whales, those with balances greater than 10,000, and the negative funding rates on derivatives markets, which suggest futures traders have adopted a pessimistic outlook on ETH.