Just a few days ago Ethereum has increased from $1,300 to $1,595 in less than a week, and the indices are strongly positive right now. On January 17, 2023, the Altcoin broke over its $1,500 resistance level and briefly tested the $1,600 level.
Now, there seems to be a rise in the action of the asset, thanks to its co-founder. In the past 20 days, the co-founder of the second-largest network in the sector has moved about $12 million in cryptocurrencies between his wallets. The crypto community was instantly alerted to the unusual activities.
LookOnChain’s study suggests that the whale address with the final 0x9e92, which received 9,300 ETH in the last 20 days, may possibly be connected to the developer. Due to the fact that it only got money from wallet Vb3, the address used to send the money ends with “0xd04d,” and it most likely belongs to Buterin.
The whale now has a total of 170,913 ETH worth almost $260 million after accepting money. He now ranks among the biggest bitcoin holders in the world, practically speaking. There is no activity in the transaction history that would lead us to believe that the whale is actually associated with a certain exchange or serves as an OTC desk. Because institutional and retail investors frequently follow the accounts of cryptocurrency influencers, projects, and developers, transactions made by Buterin typically result in an increase in Ethereum’s market volatility.
Could Buterin Be Selling His Ethereum Holdings?
Since Ethereum is currently selling at a large premium compared to the price we last saw on the market about two weeks ago, some members of the community have even inferred that Buterin is willing to sell some of his holdings. Fortunately for Ethereum investors, since the beginning of the year, the price performance of the second-largest cryptocurrency on the market has significantly improved thanks to recovering network activity and the sudden rise in inflows on the market that inexorably affected the biggest cryptocurrencies on the market, like Ethereum and Bitcoin.
According to CMC, at the time of writing, Ethereum (ETH) was priced at 1550.17 with a slight rise of 0.07% over the last 24 hours.