Ethereum Co-Founder Vitalik Buterin Sells $100K Worth Of ETH Amid 4% Tuesday Dip In Second Largest Crypto
Portfolio Pulse from Mehab Qureshi
Ethereum's co-founder Vitalik Buterin sold $100K worth of ETH as the cryptocurrency experienced a 4% dip. Despite the price decline, Ethereum's trading volumes surged by 68%, maintaining its position as the second-largest crypto by market cap. The decrease in ETH supply on exchanges and significant staking activity are highlighted as potential drivers for price increase. ETH was trading at $3,600, marking a 2.20% decrease over the last 24 hours.
March 06, 2024 | 5:40 am
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Ethereum's co-founder sold $100K worth of ETH, contributing to a 4% price dip. However, increased trading volumes and a decrease in supply on exchanges may support its price in the short term.
The sale by a prominent figure like Vitalik Buterin could initially cause concern among investors, potentially contributing to the price dip. However, the surge in trading volumes and the ongoing decrease in ETH supply on exchanges, coupled with significant staking activity, suggest a strong demand that could mitigate any negative impact in the short term.
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IMPORTANCE 80
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