ETH News: Vitalik Buterin May Be Eyeing Another Ethereum Sale, Speculators Say

Vitalik Buterin’s 1,009-ETH transfer and major institutional moves spark market speculation amid Ethereum’s ongoing price uncertainty.

Ethereum founder Vitalik Buterin moved 1,009 ETH across two wallets this week, according to blockchain observers. 

The transfer created fresh discussion across the market and many traders watched the transaction closely as founder activity often affects reactions across trading platforms.

Vitalik Buterin’s Wallet Activity Draws Attention

A report from Lookonchain revealed the transfer was worth about $2.94 million. 

Notably, the transaction did not move to an exchange, and that detail affected most of the early reactions from analysts and traders. A move toward an exchange usually signals a sell attempt, but this transfer stayed inside Buterin’s personal control.

Several observers indicated that he may have only been rearranging assets. Others noted that the transfer came during a period of rising market caution. Traders monitored further activity across major tracking tools but nothing has hinted at a sale so far.

Ethereum traded near $2,912 during the period. The price rose slightly during the last 24 hours and the earlier attempt to reach $3,000 failed as buying interest stayed weak. 

Meanwhile, trading volume dropped by more than 21% to about $21.8 billion.

Market Watches Buterin As Ethereum Fights For Stability

The market response made sense to many analysts. Large founder-linked movements often draw attention due to past behaviour across the sector. Thus, a transaction of this size forces traders to prepare for several outcomes.

Some traders expected a sell attempt even though the movement did not match typical sell activity.

The overall environment around Ethereum remained tense. Several traders tried to push the price toward $3,000. 

Ethereum has struggled with its price action | source: TradingView

Many others waited for confirmation of market direction. The rejection near that level indicated limited buying strength, and the asset’s current behaviour shows a mix of caution and slow accumulation.

Ethereum’s seven-day performance so far has shown a steady decline. The past month added more pressure as investors moved attention to other assets. So far, market uncertainty has created slower trading behaviour from investors.

Related Reading: Long-Term Whale Who Sold Before The October Crash Is Buying Ethereum

Institutional Actions Add More Noise To The Market

BlackRock made a large move that also affected the conversation. The firm deposited 36,283 ETH into Coinbase Prime. Many traders watched this activity, as institutional actions tend to influence discussion across social media and trading groups.

The deposit created several theories. Some users believed the firm was prepared for structured selling. Others thought the move formed part of internal balancing activity. 

Overall, the contrast between Buterin’s transfer and the BlackRock deposit resulted in an interesting debate. One transfer stayed inside private control. The other moved into an exchange-linked service. 

Both events came during a period of price weakness and traders felt uncertain as they tracked each new detail.

As of writing, market signals remained mixed and some analysts believe that a rebound could emerge soon.

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