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.

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

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

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

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

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

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