With Ethereum priced at $2,636, recent actions by Vitalik Buterin and a big holder known as whale ‘0x682‘ are making people worried about a possible Ethereum price drop. Many are asking if the market will go down even more.
Vitalik Buterin has made everyone worry because of his recent transactions regarding Ethereum. His transactions were tracked to different exchanges, raising concerns that the Ethereum market has been quite unstable lately causing investors and experts to worry, Many are closely watching Ethereum’s co-founder Vitalik Buterin and a mysterious investor called 0x682. Now, people are asking if the Ethereum price will drop.
Whale Activity Behind Ethereum’s Downturn!
Adding to the uncertainty, the whale known as “0x682” recently made news by depositing a large amount of Ethereum into exchanges. This whale has a history of selling a lot of ETH just before the price goes down, making people worried that the price might drop again.
This whale “0x682” once sold 10,000 ETH right before the price dropped by 7.6%, It deposited 15,000 ETH into the Kraken exchange, which is worth about $38.4 million. This action has made investors even more worried. Since this whale often sells before prices go down, many people wonder if Ethereum’s price will drop.
Ethereum price drop: Vitalik Buterin’s $10M Transactions
In August 2024, Vitalik Buterin moved around $10 million worth of Ethereum (ETH) to exchanges. This made many people in the crypto community talk. Especially since it happened while Ethereum prices were rising, Even though Buterin said he hasn’t sold any ETH for profit since 2018, these transfers made some people wonder about his plans. Critics are worried that these large moves could mean a big sell-off is coming, which might cause Ethereum’s price to drop.
Buterin explained that his transfers were for helping different projects and charities, not for making personal profit. However, the market pays close attention to large transactions and often thinks they could affect future prices. As Buterin keeps making these big transfers, people are watching closely for any signs that prices might drop.
Is Ethereum Future at Risk Due to Centralization Concerns?
Charles Hoskinson the founder of Cardano, recently said that Ethereum is like a “dictatorship”. He thinks that Vitalik Buterin has too much power over its development. This comment makes people question whether Ethereum is decentralized. While Ethereum says it is run by the community, Hoskinson argues that real decentralization cannot happen when there is a strong leader in charge.
The criticism has hurt Ethereum’s price. Investors are worried about Buterin’s influence, and the lack of price growth in the past month has made them more concerned. Ethereum has been stuck at around $2,636, with no signs of going up. Many people think that the discussion about centralization, along with this price stagnation, could cause Ethereum’s value to drop in the future. Because of this, crypto fans feel unsure about what will happen to Ethereum next.
Ethereum’s Price is Sideways Over the Last Month
Ethereum’s price has stayed the same at $2,636 from August to September 24. There has been no big increase in the past month. This lack of growth has worried investors, especially because whale transactions show that a lot of Ethereum is being moved to exchanges.
These actions by big holders, called whales, could mean that there will be more selling pressure. This might lower Ethereum’s price in the future. The lack of price growth, along with these large transactions, shows that Ethereum could have problems in the short term.
Market Pressure and Predictions
The Ethereum Foundation also added to the selling pressure by moving over $200 million worth of ETH to exchanges in August. The foundation usually sells some of its ETH to pay for development and research. However, such large transfers can quickly change the market. In the past big ETH transfers have sometimes come before major price drops, which makes investors worried.
As the crypto market faces uncertainty, the actions of Vitalik Buterin and the whale “0x682” have raised questions about Ethereum’s future. Investors are wondering if these big transactions will cause Ethereum’s price to drop. While there is a chance that the price could go down, it’s important to watch how the market reacts and what trends develop.
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