Recent actions by Vitalik Buterin and the Ethereum Foundation have sparked lively interest in the cryptocurrency community. Buterin's sale of DOG tokens and ETH transfers may have market implications.
Vitalik Buterin Sells DOG Tokens
According to PeckShieldAlert, Vitalik Buterin swapped 2 trillion DOG tokens for Ethereum. This operation converted the meme tokens into 4.43 ETH valued at nearly $10.8K. Etherscan confirmed this was not DOG tokens from Bitcoin Runes. Buterin has previously disposed of other meme coins received from various wallets. Currently, his wallet contains nearly 401 different tokens, with WhiteRock (WHITE) being the largest holding worth $8.12 million.
Ethereum Foundation Transfers ETH
The Ethereum Foundation transferred another 1,000 ETH worth $2.45 million to wallet 0xc06. Over the past month, the Foundation has transferred a total of 9,000 ETH, amounting to $22.67 million. The reasons behind the movement of ETH remain unclear, although it is known that these ETH have not been sold in the past two months. Notably, the Ethereum Foundation independently manages part of the ETH and regularly sells it to fund the Ethereum ecosystem and its operations.
Community Reaction and Current ETH Status
The actions of Buterin and the Ethereum Foundation have drawn criticism from ETH holders, who view them as a sell signal that may negatively impact ETH's price rally. Meanwhile, Ethereum ETFs have seen significant outflows, leading to the emergence of negative sentiment. As of the time of writing, ETH was priced at $2,445, with trading volumes decreasing by 29% in the past 24 hours, indicating traders' caution.
The recent actions of Vitalik Buterin and the Ethereum Foundation highlight the high volatility in the cryptocurrency market and considerations for ETH's future. Despite the current negative sentiment, experts continue to anticipate a potential recovery.
