Breaking: Ethereum Foundation’s Million-Dollar ETH Sale Precedes Price Plunge!

"ETH Price Slips After High-Value Sale: Ethereum and Altcoins Experience Decline in Value"

Irish Journalist: Ethereum (ETH) Experiences Price Slip Following Recent Sale

In a recent transaction, Ethereum (ETH) was sold at a rate of $1,611 per coin. However, the current market value of ETH stands at $1,590, indicating a slight decrease of 1.45% after the sale. Today, the second-largest digital currency is witnessing a downward trend, falling from $1,636 to $1,591 on the Bitstamp exchange. This decline is in line with the overall market trend, as most altcoins are experiencing a similar drop. The decrease in ETH value can be attributed to the recent geopolitical events and the Stars Arena hack, which resulted in a loss of nearly $3 million in cryptocurrency.

Following the aforementioned sale, the Ethereum Foundation’s wallet now holds 240.68 ETH, 3.2 million USDC, 49,700 DAI stablecoins, and 10,000 ARB. The total value of these crypto assets amounts to $3.687 million.

This is not the first time Ethereum cofounder and prominent figure, Vitalik Buterin, has made a significant sale. Over the weekend, Buterin sold 1,000 ETH, equivalent to $1.64 million in fiat, on the Bitstamp exchange. This is just one of the many ETH sales made by the Canadian programmer with Russian roots.

In the past two months, Buterin has transferred approximately 4,400 ETH, valued at $7.23 million, from his blockchain address to Bitstamp. Additionally, he has sent around 1,000 ETH in two separate transactions to the Coinbase exchange.

It is important to note that this article was originally published on U.Today and has been rewritten to ensure accuracy and uniqueness, adhering to the highest standards of journalism.

Martin Reid

Martin Reid

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