Ethereum co-founder Vitalik Buterin, whose every move is talked about, is on the agenda again with his ETH sale.
According to the latest on-chain data released by Spot on Chain, Vitalik Buterin continues to sell ETH.
At this point, the ETH price, which has shown great strength over the past week, has corrected by more than 2% and is facing selling pressure at $2,700.
Accordingly, the wallet “0x556” associated with Vitalik Buterin deposited 649 ETH (worth $1.72 million) to Paxos in the last 24 hours.
On September 19, the same wallet received 1,300 ETH (worth $3.21 million) from “0xd04,” another wallet funded by Buterin with 70,000 ETH in 2022.
In the 11 days since September 19, wallet ‘0x556’ took advantage of Ethereum’s price recovery to transfer all 1,300 ETH to Paxos, selling for a total of $3.35 million at an average selling price of $2,581 per ETH.
Vitalik Sells Buterin, Whales Buy!
As Ethereum co-founder sells, smart whales are buying dips in ETH.
According to Lookonchain's post, a smart Ethereum whale purchased 10,083 ETH worth $26.8 million.
This smart whale, who has a 100% win rate in swing trading, has made 10 successful ETH swing trades since August 12. The whale, who made a profit in all of these transactions, made a total profit of $2.14 billion.
*This is not investment advice.