Despite the market recovery, Vitalik Buterin sold over 700 Ethereum! What is the cause?

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Vitalik Buterin, the creator and co-founder of Ethereum, has sold more than 700 units of ETH, despite the relative recovery of the crypto market. Reports indicate that these sales were made not because of market pressure, but in order to finance long-term development and charity projects.

According to blockchain data, Buterin first transferred 211.84 ETH units to Kanro, his charity for fighting infectious diseases, and then sold 493 ETH units, bringing his total sale to 704.84 ETH units, equivalent to about $1.63 million.

Buterin previously announced that he plans to allocate 16,384 Ethereum over the next few years for long-term goals, including the development of open source and secure hardware and software in the fields of finance, communications, health and biotechnology.

Despite these sales, the price of ETH has risen almost 5% in the past 24 hours to $2,312.

This suggests that the market has not been affected by Buterin’s short-term selling and his actions are not indicative of widespread selling pressure. As a result, Ethereum can still benefit from the rebound in global financial markets.

Despite the market recovery, Vitalik Buterin sold more than 700 Ethereum! What is the cause? First time in Cryptocurrency News. appeared