The latest Ethereum news show that there is a lot of fear concerning the drop of the 90,000 ETH tokens and right now, one theory suggests that the co-founder of the cryptocurrency might be the one who dumped this amount. But did Vitalik Buterin became the center of attention on Christmas Day only to mask his plans to sell $25 million worth of Ethereum?
According to records from the monitoring resource Etherscan, a total of 92,000 ETH (worth around $11.5 million now) have been moved from a single wallet to the US exchange Kraken on December 25.
As noted by the blockchain analytics service ViewBase, this wallet contained over 300,000 ETH before the transaction and received most of the content from Buterin a couple years before that. Did Vitalik Buterin really sold the ETH or not? It is still a mystery.
“The whale is likely an ETH dev or VB himself,” it summarized in accompanying comments.
This transaction formed one of the three major movements to exchanges, triggering a quick succession. Huobi gained an extra 99,987 ETH while another amount of 25,908 went to Binance. All in all, the total value of the three transactions is $25.5 million and when responding to ViewBase, a lot of commentators raised concerns that Buterin or an associated investor was planning a major sell-off.
We also saw that as the saga continues, Buterin has not participated in the discussion which forms a new suspicion and a round of rumors regarding an ETH liquidation which might have happened by him. “Did Vitalik Buterin do it” is one of the most common questions asked every day now.
As we reported in the altcoin news last week, a 789,000 ETH transfer between two wallets known to be controlled by the Ponzi scheme PlusToken also triggered concerns. However, what is more frightening at this point is the fact that the price of Ether (ETH) is not moving up and despite the recent hard fork, is still trapped below $130.
Currently, ETH is undergoing two hard forks in a matter of weeks, something that commentators have described as “absurd.” As a reminder, the all-time high of Ether (ETH) in 2017 was something over $1,500. Since then, the largest altcoin by market cap has dropped by 90%.
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Stefan has been writing articles for DCForecasts since 2016 in-house full time. As one of our main cryptocurrency writers, he focuses on covering the latest cryptocurrency news, technical charts, price analyses of coins and press releases. When he is not exploring and covering the latest topics in crypto, you can find Stefan playing basketball, tennis or cycling.
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