Buterin has been selling ETH in small portions — 400 ETH on Coinbase in September — and he has moved 100 ETH there now. According to the aforementioned source, Vitalik sold 100 ETH for $181,000 at the price of $1,810 per coin.
In August this year, Buterin deposited approximately 600 ETH (worth roughly $1 million) to Coinbase. On Oct. 7, he moved 1,000 ETH to the Bitstamp exchange and sold it for roughly $1.64 million. Overall, Buterin’s wallet transferred 4,400 ETH to that centralized crypto exchange in September and October, per data shared by “Smart Money” tracker @lookonchain. This amount of ETH is the equivalent of approximately $7.23 million.
Since Oct. 24, after experiencing a peak of 12.87% rise within 48 hours, when ETH surged to $1,848, Ethereum has lost 2.3% in total, still trading above the .
In late October, the above-mentioned source reported that several new wallets made a remarkable ETH purchase on exchanges as they withdrew 47,760 ETH worth $82.97 million at that time to their cold wallets.
The grounds for making this bold prediction were the leading role of the Ethereum blockchain in the world of smart contracts, gaming, DeFi and the tokenization of traditional assets.
Also, recently, several large fund managers submitted filings to the U.S. regulatory agency, the SEC, to get permission to launch Ethereum spot ETFs. Many market players expect that should they be approved, the ETH price may skyrocket. So far, the SEC has around a dozen filings for Bitcoin spot ETFs under consideration, but Mike Novogratz, head of Galaxy Digital, expects the first BTC ETF to be approved this year.
This article was originally published on U.Today
Source: Cryptocurrency - investing.com
