Ethereum Co-Founder Vitalik Buterin Deposits $1M ETH to Coinbase


Ethereum creator Vitalik Buterin transferred 600 ETH, valued at almost a million dollars, to Coinbase on August 21. 

This transfer occurred following a more than 10% decline in ETH's price due to a broader crypto market selloff.

 Analysts and market experts are concerned that if Ethereum breaks below a key support level, a significant crash could ensue.

PeckShieldAlert, a data provider, reported that the wallet address linked to Vitalik Buterin made the transfer.

Historically, movements of ETH by Buterin and the Ethereum Foundation have been linked to subsequent drops in the price of Ethereum. 

The purpose behind this recent transfer remains undisclosed, leading to speculation about the potential for another major selloff by Vitalik Buterin.