Vitalik Buterin’s ETH Donations Hit the Market Amid Ethereum Struggles

Vitalik Buterin’s ETH Donations Hit the Market Amid Ethereum Struggles
фото показано с : zycrypto.com

2024-9-11 19:00

Ethereum co-founder Vitalik Buterin has had an unintended negative impact on the ETH price, as his ETH donations are reportedly ending up in the market.

As ZyCrypto reported earlier, Buterin refuted claims that he was profiting by selling millions of dollars worth of ETH. He stated that his ETH holdings went towards supporting crypto projects and charity organizations.

However, the projects receiving these donations are not holding on to the ETH, and instead, some coins are ending up in the market.

Buterin ETH Donations Enter the Market

According to SpotOnChain, one of the multi-signature wallets that received ETH donations from Buterin has been on a selling spree.

This wallet received 3,800 ETH, valued at nearly $10M, from Buterin in August. It has since sold nearly $2 million worth of tokens, with the latest sale happening yesterday.

These donations come amid growing concerns about the lack of enough buyers to absorb the new ETH tokens entering the market.

Spot Ethereum exchange-traded funds (ETFs) saw around $90M in outflows last week. These products have failed to capture buying interest, with only one day of positive flows in the last three weeks, as seen on SoSoValue. 

Is an Ethereum Bullish Reversal on the Way?

Ethereum has gained slightly by 2.6%, trading at $2,294 at the time of writing.

ETH could be heading towards a bullish reversal because of the increase in network usage. Data from Santiment shows a gradual increase in the ETH daily active addresses since the beginning of the month.

This increase is usually a bullish indicator, as it shows that more people are interacting with the Ethereum network. This could increase ETH’s utility and drive further gains.

(Source: Santiment)

Moreover, buyers could use the ETH price dip to accumulate more tokens. The Relative Strength Index (RSI) has risen from the oversold region to 49, which shows that sellers could be losing their grip on the market.

The rising RSI line shows that bullish momentum could be building up. However, buyers are needed to drive Ethereum price gains. 

(Source: TradingView) 

The Moving Average Convergence Divergence (MACD) also suggests that bulls might be joining the Ethereum market. The MACD line is above the signal line, and the histogram bars have turned green.

However, for ETH to confirm the uptrend, the MACD line needs to cross over to the positive region. Buyers might be waiting for this formation to enter the market.

Similar to Notcoin - Blum - Airdrops In 2024

origin »

Ethereum (ETH) на Currencies.ru

$ 3144.29 (+0.50%)
Объем 24H $35.082b
Изменеия 24h: 0.68 %, 7d: -2.06 %
Cегодня L: $3039.69 - H: $3144.29
Капитализация $378.659b Rank 2
Цена в час новости $ 2313.25 (35.93%)

eth ethereum vitalik buterin market donations price

Источник: zycrypto.com

eth ethereum → Результатов: 126


Traders Rushing Back to Ethereum – Can ETH Recover This September?

It looks like the crypto market is entering a slow recovery mode, with most of the top 10 projects seeing nice jumps over the past week. However, Ethereum failed to follow the market sentiment, and remained around $2,300 level throughout the week – industry insiders are blaming a large number of ETH whales who liquidated […] The post Traders Rushing Back to Ethereum – Can ETH Recover This September? appeared first on CaptainAltcoin.

2024-9-18 17:30


Ethereum Price Prediction: Analyst Anticipates ETH Dropping to $2200, Sharks Join The Mpeppe Wave After 150% Rally

Ethereum (ETH), the second-largest cryptocurrency by market capitalization, has recently been struggling to maintain its momentum in the face of bearish trends. Analysts have been observing Ethereum’s performance closely, and many are predicting a further decline in price, with some forecasting that ETH could drop as low as $2,200.

2024-9-7 20:27


Аналитики фиксируют рекордное падение комиссионных сборов Ethereum, предсказывая бычий тренд

Резкое падение комиссии за транзакции в Ethereum может стать предвестником бычьего тренда для токенов Эфира (ETH), лежащих в основе сети, говорят аналитики, ссылаясь на исторические данные. «Каждый раз, когда комиссия ETH падала до самого дна, это часто сигнализировало о снижении цен в среднесрочной перспективе», – заявил Райан Ли, главный аналитик Bitget Research.

2024-8-19 16:20


За месяц кит перевел 48 500 ETH на OKX

Команда аналитической платформы Lookonchain заметила движение капитала на кошельке, связанном с участником первичного размещения монет (ICO) Ethereum, который получил активы по цене в $0,31. A whale who received 1M $ETH in #Ethereum ICO at a price of $0.

2024-8-13 11:45


дальше еще 77 новостей →

Партнеры Currencies.ru

Аналог Notcoin - Blum - Играй и зарабатывай Монеты



Реклама на Currencies.ru

Самое свежее на Currencies.ru

Bitcoin breaks $82,000 boosted by Trump’s re-election win

Bitcoin’s upward trajectory follows Donald Trump’s presidential win last week Over the past 30 days, Bitcoin has increased in value by more than 30% Institutional interest is rising with Bitcoin ETFs, noted by BlackRock’s IBIT ETF reaching $1.