Cryptocurrency enthusiasts are abuzz with speculation after Ethereum creator Vitalik Buterin and the Ethereum Foundation moved a staggering 15K ETH to the Kraken exchange. With whispers of an impending ETH crash, investors are keeping a watchful eye on the market dynamics.
Vitalik’s Mysterious Transactions
Vitalik Buterin’s address, vitalik.eth, has sent 200 ETH to the Kraken exchange, as reported by PeckShieldAlert. A closer look at Etherscan data reveals that this is not the first time such a transfer has occurred, with five similar transactions in the last two months. What’s more, the Ethereum Foundation followed suit by transferring 15K ETH to Kraken, raising eyebrows and sparking fear, uncertainty, and doubt (FUD) among the crypto community.
Can History Repeat Itself?
The last time the Ethereum Foundation made a sizable transfer of 20,000 ETH to Kraken was on November 12, 2021. At that time, ETH price plummeted by 40% within two months after cashing out near its all-time high. Now, as the crypto world braces for a potential ETH price crash and the possibility of meme coins taking a hit, all eyes are on the Ethereum Foundation and Vitalik Buterin’s next moves.
Vitalik Buterin’s Past Sales: Meme Coins Beware!
In the past, Vitalik Buterin has sold off numerous meme coins, often resulting in significant price drops for the affected tokens. For instance, in March, he sold 50 billion MOPS for 1.25 ETH, 10 billion CULT for 58 ETH, and 500 trillion SHIK for 380 ETH. Additionally, he sold 3.4M BITE for 5.9 ETH and transferred 214 ETH worth $337k to the Ethereum Foundation. Currently, with ETH’s price up 3% in the last 24 hours, traders are showing a heightened interest as trading volume increases by 52%.
With the stage set for potential market turmoil, the crypto community watches with gasping breath to see how these mysterious transactions unfold and what it means for the future of Ethereum and meme coins alike.
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- Source: https://coinpedia.org/news/15k-eth-moved-by-crypto-titans-is-ethereums-price-about-to-drop-heavily-uncover-the-truth/
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