- Vitalik Buterin sells 2,961 ETH holdings.
- ETH price drops over 5% following sales.
- Unrelated BTC mining difficulty drop of 11.16%.
Vitalik Buterin, Ethereum co-founder, sold approximately 2,961 ETH worth $6.6 million over three days, utilizing CoW Protocol to minimize market impact according to on-chain analytics.
The Ethereum sale affected ETH’s price, seeing a 5% drop, while Bitcoin faced a separate mining difficulty decrease, viewing these moves as significant signals within the cryptocurrency landscape.
Vitalik Buterin, Ethereum co-founder, has recently conducted significant sales, unloading 2,961 ETH valued at $6.6 million. The transactions spanned three days at an average rate of $2,228 per ETH through CoW Protocol.
The process was deliberately executed through multiple small swaps to minimize market impact. Currently, ETH trades at approximately $2,130, reflecting a decline of over 5% following these actions.
The decline in ETH value has raised concerns among market participants. Notably, Bitcoin, a related cryptocurrency, saw an unrelated mining difficulty drop by 11.16%, marking a significant adjustment.
This sharp decline in Bitcoin mining difficulty is the most substantial since the China crypto ban in 2021. Experts anticipate a 5.63% increase in difficulty by February 20, reflecting on the evolving dynamics within the cryptocurrency sector.
Market reactions to these sales have been varied due to potential reservations about Ethereum’s future. The lack of official statements from Buterin or other Ethereum leaders has fueled uncertainties.
Historically, such sales can trigger ongoing volatility and potentially impact the trust in Ethereum’s governance, but comprehensive data on long-term effects remains speculative. “It seems there are no direct quotes from Vitalik Buterin or other key figures in the primary sources you provided,” a source indicates. Observers will watch for clues on regulatory or technological shifts that may come.
