Buterin owns a large ETH fortune valued at more than $400 million, positioning him as a major Ethereum whale.
Ethereum co-founder deposited 600 ETH on Coinbasepossibly because it seeks to sell the tokens for close to $1 million.
The deposit to Coinbase follows a transfer processed two days ago that increased the co-founder’s holdings by 1,000 ETH.
According to on-chain data from the Arkham Intelligence platform, Buterin’s wallet received just over $1.6 million worth of Ether (ETH). This was after the co-founder refunded 250,000 RAI on Maker.
The moves come amid a significant price decline. ETH, the second largest cryptocurrency by market capitalization, has fallen almost 10% in price in the past week.
Ether, which fell from a high of $1,850 to below $1,630 last week while Bitcoin (BTC) took a similar hit, has rallied slightly, trading as high as $1,674.
Some analysts pointed out the cryptocurrency could drop to $1,600 – $1,550which could set the stage for a huge 37-45% correction, with a $1,000 price target.
Buterin still owns a large ETH fortune valued at more than $400 millionwhich position it as a major Ethereum whale.
Source: Ambito
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