As a seasoned analyst with years of experience navigating the tumultuous waters of the cryptocurrency market, I can say that Vitalik Buterin’s recent token transfers have become as predictable as tides in a full moon cycle. While it may not be a selloff per se, his actions have an undeniable impact on market sentiment, much like a jumper in a crowded movie theater causing a panic.
Vitalik Buterin, co-founder of Ethereum, has ignited fresh rumors with his latest substantial token transfers. In the most recent transaction, Buterin moved millions of STRK tokens to a new digital wallet, leading to conjectures about a possible selloff. His recent actions, such as transferring large amounts of ETH to a multi-signature wallet, have left investors questioning his intentions in an already turbulent market
Vitalik Buterin Spark Selloff Fears With STRK Transfers
Yesterday, Vitalik Buterin transferred approximately 2.1 million Starknet tokens, with an estimated value of $858,700, to a newly created wallet. According to Arkham Intelligence, this action follows his recent release of 1.268 million STRK tokens, valued at around $470,000, from the Starknet Locked Token Grant contract
Initially investing in Starknet, Vitalik Buterin, the investee, received a total of 2.1 million tokens distributed over two releases. More recently, he transferred these tokens to a new digital wallet, leading some investors to speculate about a possible selling action given the large-scale transfers
In simpler terms, Last week, he moved over 800 Ether to a multi-sig wallet. This follows an earlier transaction of 3,000 ETH on August 9
These actions have significantly influenced investor confidence, particularly during this period of market instability. Market players are eager for insight into the possible causes behind these substantial changes
Nevertheless, Buterin has openly discussed his Ethereum transactions. He stated that these Ethereum sales were made to fund projects within the Ether community and for causes such as biomedical research, among others. However, these transactions, while not necessarily tied to selloffs, can still influence market sentiment, leading traders to speculate
STRK Price Remains Stable
Despite the recent massive transfer by Vitalik Buterin, STRK price was up over 4% to $0.4003, with its trading volume soaring 32% to $100.32 million. Notably, the crypto has touched a high of $0.4174 and a low of $0.3813 in the last 24 hours. Besides, CoinGlass data showed that the Starknet Futures Open Interest soared 12% to $59.59 million, indicating investors’ interest in the crypto.
He still owns a substantial portion of Ethereum, though he recently sold off a large amount for about $571.98 million in current market value
Currently, the price of ETH is decreasing by approximately 3% today, reaching around $2,370. Over the past month, it has fluctuated significantly, with a high of $2,820 and a low of $2,312, demonstrating the highly volatile nature of the crypto market. Nevertheless, recent analysis suggests that ETH could potentially rise to $4,500 due to Monochrome Asset Management’s plans to launch an Ether ETF in Australia
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2024-09-05 19:17