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Ethereum Whale Sells $22 Million in ETH, Vitalik Buterin Says “It Wasn’t Me”

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Cryptocurrency investors are reeling after an Ethereum whale reportedly liquidated a substantial number of tokens.

While Ethereum’s founder, Vitalik Buterin, has categorically denied being the individual behind this significant move, leading technical analysts warn that such heightened selling pressure could propel ETH’s value downward, possibly reaching the $1,000 threshold.

Ethereum Whale Sells Millions in ETH

The cryptocurrency market was in for a shock today, October 18, as an Ethereum “whale” – a term used for someone holding a significant amount of a particular crypto – liquidated a staggering 13,871 ETH. Blockchain analytics firm LookOnChain took to social media to unearth this startling information.

“A crazy whale dumped 13,871 ETH for 21.87M USDC at $1,577 today, October 18. The whale received 32K ETH ($39.9M) from Bitfinex on January 27, 2021, before the bull market, when the price was $1,239. This whale experienced a bull run at $4,700. Why dumping now?,” the company questioned.

Once enjoying the benefits of the bullish market, this Ethereum whale appears to have had a sudden change of heart or strategy.

While many could only speculate about the identity of this mysterious investor, Ethereum’s founder, Vitalik Buterin, felt the need to clarify his stance in this whirlwind amid recent accusations.

“If you see an article saying ‘Vitalik sends XXX ETH to [exchange],’ it’s not actually me selling, it’s almost always me donating to some charity or nonprofit or other project, and the recipient selling because, well, they have to cover expenses. I haven’t ‘sold’ ETH for personal gain since 2018,” Buterin said.

As this Ethereum offloading has caused ripples in the cryptocurrency community, several analysts have provided insights i

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Author: Bary Rahma

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