Vitalik Buterin Explains $2.2M ETH Wallet Dump: Market Impact
Ethereum co-founder Vitalik Buterin has addressed recent concerns about a large ETH sale linked to his wallet. The cryptocurrency market was worried. The reason was that a wallet tied to Buterin sold over $2.2 million worth of ETH in just 12 days. Also Read: UK’s Landmark Crypto Bill: A Game-Changer for Bitcoin Holders Understanding the Impact of Vitalik Buterin’s ETH Sale on the Cryptocurrency Market The Sale Explained That sale from yesterday (by a bio-defense group I fund) was triggered by an automatic cowswap twap order that was set up way back on Aug 29. That was the last one. — vitalik.eth (@VitalikButerin) September 12, 2024 Buterin clarified the sale was automatic. He said that it was set up on August 29 using a “cowswap twap order.” He also said that this was the last sale he’s planning for now. The ETH sale was conducted by a bio-defense group that Buterin funds, which is adding an interesting twist to the story. Market Reaction The cryptocurrency...