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Ethereum: High Tensions Around Vitalik Buterin Decision to Sell 90,000 ETH - Binaryx

Ethereum: High Tensions Around Vitalik Buterin Decision to Sell 90,000 ETH

It seems like Vitalik Buterin cannot imagine his activity without not being in the spotlight. Every week, the Canadian-Russian founder of Ethereum is on the focus. Regardless of the platform, it can be Twitter, and it can be an interview or something else, VB manages to drive the community instantly. And here is another cryptocurrency scandal that involves his project. 

According to Etherscan, while Santa was trying to do his job by giving presents, an amount of 92,000 ETH ($11,551,520,00) was received the cryptocurrency exchange Kraken (US) from a single wallet. The transaction was completed on December 25.

It Must Be Buterin or Some Ethereum Whale

This transaction was immediately scanned and analyzed by the cryptocurrency and blockchain specialists. According to data from ViewBase, the wallet had at least 300,000 ETH, before the mentioned digital asset move. Moreover, the primary source of funding was Vitalik Buterin in previous years. So, it may be the case where the founder decided to sell-off the significant amount of ETH. During that fantastic Christmas evening, not only Kraken but Huobi, as well as Binance, received their ‘crypto’ gifts. For instance, the cryptocurrency exchange Huobi received 99,987 ETH, while Binance got 25,908 ETH. 

Now, by applying previous negative news about Ethereum hard fork to this recent action, the crypto community raises concerns about its trust in the Ethereum project.

The Liquidation of Ethereum?

Naturally, rumors and fears are the first packs of emotions that the community may feel upon such crypto assets moves. Given that Ethereum lost a major percentage of its value during 2019, the cryptocurrency traders and ETH investors are not happy. Additionally, it was worth to mention the Ponzi scheme Plustoken, where the total sum of transactions between wallets was 789,000 ETH.

Moreover, the recent week is indicating that Ethereum is still performing worse than his main rival – Bitcoin. It is reasonable to conclude that Ethereum and Vitalik Buterin were having a tough year since the project was mainly involved in suspicious cases. 

Apart from that, VB was having a series of discussions on Twitter with different crypto community members, including famous investors and influencers. Most of them weren’t satisfied with the way he operates the project, as Wertheimer criticized the roadmap of Ethereum developers.