• Ethereum creator Vitalik Buterin and the Ethereum Foundation moved 15K ETH to Kraken exchange.
• Speculation that the transfer could lead to a sharp decline in ETH price.
• Past sales of meme coins by Vitalik have resulted in significant price drops for affected tokens.
15K ETH Moved by Crypto Titans: Is Ethereum’s Price About To Drop Heavily?
Cryptocurrency enthusiasts are speculating if an impending ETH crash is on its way after Ethereum creator Vitalik Buterin and the Ethereum Foundation recently moved a staggering 15K ETH to the Kraken exchange. Investors are keeping a close eye on how the market dynamics will play out.
Vitalik’s Mysterious Transactions
Vitalik’s address, vitalik.eth, sent 200 ETH to Kraken as reported by PeckShieldAlert. It has been revealed that this is not an isolated incident as five similar transactions have happened in the last two months. The Ethereum Foundation followed suit by transferring 15K ETH to Kraken, igniting fear and doubt among crypto users.
Can History Repeat Itself?
In November 2021, the same thing happened when 21000 ETH were transferred from the foundation to Kraken, resulting in a 40% decline of its value within 2 months after cashing out near its peak value. With another large-scale transfer happening again now, meme coin traders are particularly wary about any potential declines following this move.
Vitalik Buterin’s Past Sales: Meme Coins Beware!
Past sales of meme coins by Vitalik have often caused significant price drops for those particular tokens; such as 50 billion MOPS for 1.25 ETH, 10 billion CULT for 58 ETH, 500 trillion SHIK for 380 ETH 3.4M BITE for 5.9 ETH and 214ETH worth $337k were transferred to the Ethereum Foundation earlier this year in March respectively . Currently with 3% increase in 24 hours trading volume has increased 52%, which signals heightened investor interest as well as caution around any further dips in prices due to this transfer of 15000 Ethreum from Etherfundation
The crypto world is watching closely what transaction will be made next by Etherfundation and Vitalic Buterin and curious about if history will repeat itself or not .