{"id":171137,"date":"2024-09-09T12:03:17","date_gmt":"2024-09-09T12:03:17","guid":{"rendered":"https:\/\/crypto-economy.com\/?p=171137"},"modified":"2024-09-09T12:03:27","modified_gmt":"2024-09-09T12:03:27","slug":"vitalik-buterins-760-eth-selloff-sparks-concerns-amid-20-liquidity-drop","status":"publish","type":"post","link":"https:\/\/crypto-economy.com\/vitalik-buterins-760-eth-selloff-sparks-concerns-amid-20-liquidity-drop\/","title":{"rendered":"Vitalik Buterin\u2019s 760 ETH Selloff Sparks Concerns Amid 20% Liquidity Drop"},"content":{"rendered":"<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">TL;DR<\/span><\/p>\n<ul style=\"text-align: justify\">\n<li><strong><span data-preserver-spaces=\"true\">Vitalik Buterin\u2019s Selloff<\/span><\/strong><span data-preserver-spaces=\"true\">: Ethereum co-founder Vitalik Buterin sold 760 ETH, worth approximately $1.835 million in USDC, raising concerns within the crypto community amid a market downturn.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Liquidity Impact<\/span><\/strong><span data-preserver-spaces=\"true\">: The selloff led to a 20% drop in Ethereum\u2019s liquidity on US-based exchanges, contributing to a 6% price decline over the past week and 25% over the past 60 days.<\/span><\/li>\n<li><strong><span data-preserver-spaces=\"true\">Community Reactions<\/span><\/strong><span data-preserver-spaces=\"true\"><span data-preserver-spaces=\"true\">: Buterin clarified that his sales are for charitable contributions and ecosystem funding, not personal profit, but the market remains cautious about the implications.<\/span><\/span><br \/>\n<hr \/>\n<\/li>\n<\/ul>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Ethereum co-founder <\/span><strong><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/vitalik-buterin\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">Vitalik Buterin<\/span><\/a><span data-preserver-spaces=\"true\"> has recently made headlines by <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/platform.spotonchain.ai\/en\/profile?address=0xfeb016d0d14ac0fa6d69199608b0776d007203b2\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">selling <\/span><\/a><span data-preserver-spaces=\"true\">760 ETH from his multi-signature wallet<\/span><\/strong><span data-preserver-spaces=\"true\">, generating approximately $1.835 million in USDC. This transaction has raised eyebrows within the crypto community, especially given the timing amid a broader market downturn.<\/span><!--more--><\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"550\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">The multi-signature wallet that got <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$ETH<\/a> from <a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">@VitalikButerin<\/a> is on a selling streak!<\/p>\n<p>After receiving 3,800 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$ETH<\/a> ($9.99M) from Vitalik on Aug 9 and 30, it\u2019s been cashing out, selling 760 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$ETH<\/a> for 1.835M <a href=\"https:\/\/twitter.com\/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">$USDC<\/a> at ~$2,414 per ETH. The latest sale happened just 21 hours ago.\u2026 <a href=\"https:\/\/t.co\/ELcjpPSg4K\" target=\"_blank\">pic.twitter.com\/ELcjpPSg4K<\/a><\/p>\n<p>&mdash; Spot On Chain (@spotonchain) <a href=\"https:\/\/twitter.com\/spotonchain\/status\/1832981226753532049?ref_src=twsrc%5Etfw\" target=\"_blank\" rel=\"noopener\">September 9, 2024<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Impact on Ethereum Liquidity<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The sell-off has had a noticeable impact on Ethereum\u2019s liquidity. <\/span><strong><span data-preserver-spaces=\"true\">Data indicates that the liquidity of Ether<\/span><\/strong><span data-preserver-spaces=\"true\"> pairs on US-based centralized exchanges <\/span><strong><span data-preserver-spaces=\"true\">has dropped by 20%<\/span><\/strong><span data-preserver-spaces=\"true\">, with the average market depth falling to $14 million. <\/span><\/p>\n<p style=\"text-align: justify\"><strong><span data-preserver-spaces=\"true\">This decline<\/span><\/strong><span data-preserver-spaces=\"true\"> in liquidity has <\/span><strong><span data-preserver-spaces=\"true\">contributed to a 6% drop in <\/span><a class=\"editor-rtfLink\" href=\"https:\/\/crypto-economy.com\/what-is-ethereum\/\" target=\"_blank\" rel=\"noopener\"><span data-preserver-spaces=\"true\">ETH<\/span><\/a><span data-preserver-spaces=\"true\"> prices over the past week and a 25% decline over the past 60 days.<\/span><\/strong><span data-preserver-spaces=\"true\"> Adding to the market\u2019s concerns, the Ethereum Foundation has also been active in offloading its holdings. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">The Foundation sold 450 ETH for 1.029 million DAI, and in total, it has sold 550 ETH worth approximately $1.28 million over the past four days. These transactions have further exacerbated the selling pressure on ETH.<\/span><\/p>\n<p><img fetchpriority=\"high\" decoding=\"async\" class=\"alignnone size-full wp-image-171138\" src=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/VitalikButerin-1.jpg\" alt=\"Vitalik Buterin\u2019s 760 ETH Selloff Sparks Concerns Amid 20% Liquidity Drop\" width=\"825\" height=\"300\" srcset=\"https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/VitalikButerin-1.jpg 825w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/VitalikButerin-1-300x109.jpg 300w, https:\/\/crypto-economy.com\/\/wp-content\/uploads\/2024\/09\/VitalikButerin-1-768x279.jpg 768w\" sizes=\"(max-width: 825px) 100vw, 825px\" \/><\/p>\n<h2 style=\"text-align: left\"><span data-preserver-spaces=\"true\">Vitalik Buterin\u2019s Clarification<\/span><\/h2>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">In response to the concerns, <\/span><strong><span data-preserver-spaces=\"true\">Buterin clarified that he has not sold ETH for personal profit since 2018.<\/span><\/strong><span data-preserver-spaces=\"true\"> He emphasized that his sales are typically for charitable contributions, donations, or funding projects within the Ethereum ecosystem. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">This statement aims to reassure the community that his actions are not driven by personal gain but by a commitment to support valuable initiatives. The crypto community has been abuzz with discussions about the timing and implications of these transactions. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Some speculate that the selloff could signal a lack of confidence in the market, while others believe it is a strategic move to support various projects and charities. <\/span><strong><span data-preserver-spaces=\"true\">The broader market sentiment remains cautious,<\/span><\/strong><span data-preserver-spaces=\"true\"> influenced by ongoing economic factors and market volatility.<\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">Vitalik Buterin\u2019s recent ETH selloff and the Ethereum Foundation\u2019s active offloading have sparked significant concerns within the crypto community. <\/span><\/p>\n<p style=\"text-align: justify\"><span data-preserver-spaces=\"true\">While Buterin\u2019s clarification provides some reassurance, the impact on Ethereum\u2019s liquidity and market sentiment cannot be ignored. As the market continues to navigate these developments, all eyes will be on how these actions influence the future of Ethereum.<\/span><\/p>\n","protected":false},"excerpt":{"rendered":"<p>TL;DR Vitalik Buterin\u2019s Selloff: Ethereum co-founder Vitalik Buterin sold 760 ETH, worth approximately $1.835 million in USDC, raising concerns within the crypto community amid a market downturn. Liquidity Impact: The selloff led to a 20% drop in Ethereum\u2019s liquidity on US-based exchanges, contributing to a 6% price decline over the past week and 25% over &#8230; <\/p>\n<p class=\"read-more-container\"><a title=\"Vitalik Buterin\u2019s 760 ETH Selloff Sparks Concerns Amid 20% Liquidity Drop\" class=\"read-more button\" href=\"https:\/\/crypto-economy.com\/vitalik-buterins-760-eth-selloff-sparks-concerns-amid-20-liquidity-drop\/#more-171137\" aria-label=\"More on Vitalik Buterin\u2019s 760 ETH Selloff Sparks Concerns Amid 20% Liquidity Drop\">Read more<\/a><\/p>\n","protected":false},"author":32,"featured_media":171139,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[73,74],"tags":[5536,5521,4679,4872],"_links":{"self":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/171137"}],"collection":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/users\/32"}],"replies":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/comments?post=171137"}],"version-history":[{"count":1,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/171137\/revisions"}],"predecessor-version":[{"id":171141,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/posts\/171137\/revisions\/171141"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media\/171139"}],"wp:attachment":[{"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/media?parent=171137"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/categories?post=171137"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/crypto-economy.com\/wp-json\/wp\/v2\/tags?post=171137"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}