Vitalik Buterin Moves 600 ETH To Coinbase, Is Ethereum Crash To $1000 Imminent? – Crypto News – Crypto News
Connect with us
Bitcoin (BTC) To Hit $30K As Early Signs Of Institutional Buying Appear Bitcoin (BTC) To Hit $30K As Early Signs Of Institutional Buying Appear

Technology

Vitalik Buterin Moves 600 ETH To Coinbase, Is Ethereum Crash To $1000 Imminent? – Crypto News

Published

3 years ago

on

Ethereum creator Vitalik Buterin has transferred 600 ETH worth nearly a million to crypto exchange Coinbase on Monday. The move comes after ETH price fell more than 10% in a recent selloff in the broader crypto market and analysts and market experts are now expecting Ethereum to crash massively if it breaks below the key support level.

Ethereum Creator Vitalik Buterin Selling ETH

According to data by PeckShieldAlert, a wallet address linked to Vitalik Buterin transferred 600 ETH worth nearly 1 million to Coinbase on August 21.

Typically, the movement of ETH by Vitalik Buterin and the Ethereum Foundation is followed by a fall in ETH price. While the reason behind the recent transfer remains unknown, some speculate another massive selloff by Vitalik Buterin.

After the Shanghai upgrade, the Ethereum team is working on the Cancun upgrade, bringing account abstraction, increasing scaling, and improving storage effectiveness.

Read More: Decentralized Social Platform Friend Tech Trumps Bitcoin and Uniswap in Total Fees

Ethereum Price Crashing to $1000?

Popular crypto analyst Ali Martinez predicts a significant correction in ETH price if it falls below $1,550. He is targeting a 37%-45% correction, risking the price to fall to $1000.

Ethereum is at an inflection point as the chart structure is really weak. A break below the $1,600–$1,550 range will cause ETH price to fall suddenly. Moreover, CoinGape Media also reported lagging Ethereum network fundamentals. The monthly average of active Ethereum ($ETH) addresses is below the annual average, suggesting limited on-chain activity. This is a common indicator of diminished network health and utilization.

ETH price jumped 0.5% in the past 24 hours, with the price currently trading at $1670. The 24-hour low and high are $1665 and $1692, respectively. However, trading volume has decreased by 7% in the last 24 hours.

Also Read:

<!–

Top Crypto Marketing Firms / Agencies 2023; Here’s Best Picks [Updated]

Top 10 Web3 Games To Explore In 2023; Here List

–>

<!–

–>

Varinder has 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently covering all the latest updates and developments in the crypto industry.

The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.

<!–

Crypto Stories

View all

twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720twitter_is_now_worth_just_33__of_elon_musk___s_purchase_price_720
Twitter is now worth just 33% of Elon Musk’s purchase price

will_cramer_curse_strike_again_720will_cramer_curse_strike_again_720
Will Cramer Curse Strike Again?

mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720mercedes_benz_to_release_nft_collection_with_fingerprints_dao_720
Mercedes Benz To Release NFT Collection With Fingerprints DAO

–>

Related Topics:
Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

Trending