While many engaged in festivities on Christmas Day, some members of the crypto community were hit with FUD. This is because rumours about Ethereum (ETH) co-founder Vitalik Buterin’s supposed ETH dumps spread like wildfire.
According to data from Etherscan, about 92,000 ETH (about $11.5 million), moved from an unknown wallet to a Kraken wallet on Christmas Day. The whale move, per a tweet from blockchain monitoring service ViewBase, came from a wallet that had a 300,000 ETH balance just before the transfer was initiated.
Furthermore, and especially because the wallet had received ETH from Buterin before, ViewBase believes that the wallet is owned by a whale who is “likely an ETH dev or VB himself.”
Buterin has since denied that the transaction originated from him. According to a tweet posted yesterday, Buterin said:
“…I have no idea what that address is. Possible someone mistook some exchange’s intermediate address for my own.”
Interestingly, on the day of the transfer, Ether dropped below $124. This is a new low not seen in about 10 months since February.
Speaking to Thiel Capital managing director Eric Weinstein weeks ago, Buterin had admitted to a different whale move from the Ethereum Foundation. This move was done back in 2018 when ETH was trading at record highs.
For now, the ETH community has nothing to worry about.
Image Credits: Pixabay
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