Over the past few weeks, an wallet that received 3,800 ETH (Ethereum) from Vitalik Buterin last August sold over 950.
According Lookonchain is a wallet which received $9.8 Million in Ethereum from Vitalik Buterin, the co-founder of Ethereum. On September 11, 190 Ethereum were sold for $441.971 USDC.
The wallet initially received 3,800 ETH from Buterin last month—3,000 ETH on Aug. 9 and an additional 800 ETH On August 30, it was announced that the sale would begin. After a short time, the sale of 760 ETH was completed for $1.835M USDC (an average of $2.414), and then continued to sell ETH.
At the time this article was written, the wallet sold 950 ETH between Aug. 30 and Sept. 1, for approximately $2.28million.
Buterin has denied the accusations. denied these claimsDeclaring that the money was intended to be used for ecosystem development and charitable efforts.
“All sales have been to support various projects that I think are valuable, either within the ethereum ecosystem or broader charity,” Buterin stated in a post on X.
He did not specify who received his most recent transfer.
The Ethereum Foundation, which is responsible for the Ethereum Blockchain’s development, also has made a number of notable transactions during the last couple months.
As before reported by crypto.news, the foundation recently sold 450 ETH for 1.029 million DAI on Sep. 9, bringing its total sales for 2024 to 3066 ETH. Although the Ethereum Foundation did not comment officially on why it sold ETH, sources have said that they were to cover its operational costs.
The recent sale of Ethereum has put downward pressure on its (ETHPrice of leading altcoins is down over 13% during the last thirty days.
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Source: crypto.news