Ethereum co-founder Vitalik Buterin recently clarified that he has not sold any of his ETH since 2018, despite rumors surrounding his trading activity. Buterin confirmed that any ETH moved was either to projects within the Ethereum ecosystem or to charity.
Several reports suggest that Buterin recently transferred $10 million worth of ETH to exchanges. Data from Arkham Intelligence reveals that since 2015, Buterin has moved 422,000 ETH from his wallet, with 840,000 ETH moved in the past two years. In late August, Buterin reportedly dumped $2 million worth of ETH following his bullish tweet.
Around the same time, the Ethereum Foundation also transferred 84,000 ETH (around $207 million) to exchanges to fund development and important projects. While these transfers may have been for good purposes, some believe that these large-scale liquidations could put short-term price pressures.
Buterin also recently distributed $8.4 million in grants to various ecosystem projects and criticized the liquidity farming business model as unsustainable. Amid all this, ETH is currently trading around $2,378, down about 5% in the past week. $ETH