Ethereum co-founder Vitalik Buterin has transferred 600 Ether (ETH), amounting to approximately $1 million, to a Coinbase wallet. This move comes amidst a recent decline in the value of ETH, which has dropped by almost 10% in the past few days.
The current trading price of ETH is $1,674, with a trading volume of $4.5 billion over the last 24 hours. However, the reason behind Buterin’s transfer remains unknown, and details regarding the wallet owner are yet to be disclosed. The lack of explanation from the Ethereum creator adds to the speculation surrounding this move.
Considering Buterin’s significance in the industry, his action may have an impact on the market, especially in the current uncertain times. Crypto analyst Ali Martinez is pessimistic about ETH, suggesting that a further decline of 37% to 45% is possible if the price falls below $1,550. Various analysts emphasize the significance of the current ETH price, with the $1,600 zone being critical. If ETH drops below this level, it could potentially reach $1,550 and follow the predicted downward trajectory outlined by Martinez.
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