Bearish Signal for Ethereum? ETH Transfer from Vitalik Buterin to Coinbase!

The leading cryptocurrency, Bitcoin, had a quiet weekend as it continued its horizontal movements at the $ 26,000 level.

However, BTC, which decreased by 1.47 in the last 24 hours, approached the $ 26,000 limit.

The largest altcoin Ethereum also experienced a decline like BTC. Although ETH, which has decreased by 0.70% in the last 24, fell to $ 1563, it is traded at $ 1,580 at the time of writing.

While wondering whether the decline will continue or not, the popular platform Lookonchain shared that Ethereum founder Vitalik Buterin transferred 400 ETH to Coinbase.

“Vitalik Buterin transferred 400 ETH (worth approximately $632,000) to Coinbase.”

vitalik.eth(@VitalikButerin) deposited 400 $ETH($632K ) to #Coinbase 30 mins ago.https://t.co/q6Y6MuNrdF pic.twitter.com/idy96sxZxO

— Lookonchain (@lookonchain) September 25, 2023

While Buterin’s transfer led to various speculations in the cryptocurrency community, some community members thought that Buterin was preparing for a sale, while others stated that they were concerned that this transfer could bring a sales pressure on the crypto market, especially ETH.

Because when Buterin transfers ETH to the exchanges, there is usually a downward pressure afterwards.

*This is not investment advice.