Wednesday, 12 June 2024
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CryptoEthereum

Founder of the Ethereum is Actively Selling

The Ethereum (ETH) founder Vitalik Buterin has been in the news since he recently sent 200 ETH to the Kraken cryptocurrency market.

Investors frequently transfer their cryptocurrencies to exchanges while trying to sell. According to earlier Peckshiled reporting, the inventor of Ethereum utilized the ETH stockpile as collateral on Reflexer to produce 150,000 RAI tokens.

Buterin started dumping

Buterin exchanged 378,500 USD coins for 132,500 RAI (USDC). The remaining 17,500 RAI were traded for 50,000 Dai (DAI). The conversion of ETH into the stablecoins USDC and DAI, according to PeckShield, took less than three hours.

The transactions were also captured by blockchain watchdog Etherscan. Buterin initially sent 200 ETH to Reflexer to produce 100,000 RAI.

  • ETH founder recently sent 200 ETH to the Kraken cryptocurrency market.
  • Buterin exchanged 378,500 USD coins for 132,500 RAI (USDC).
  • The sales totaled 220 ether, which is currently worth $332,420.

Then Buterin gave Reflexer 300 ETH instantly to produce 50,000 RAI. Etherscan claims that Buterin spent more than $200 on both transactions.

Also, for 58 ether, he had recently sold 9.9 billion CULT tokens, the native token of the CultDAO (ETH). He also sold his holdings in BITE and MOPS, according to blockchain analyst PeckShield.

The sales totaled 220 ether, which is currently worth $332,420, according to Coindesk. Buterin started a similar dumping in May 2021 by selling tokens like Dogelon Mars (ELON), which led to drops in the value of 40% and 90%, respectively.

Returning to Ethereum, the price predictions are upbeat following Vitalik Buterin’s most recent comments on the network.

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