The post Vitalik Buterin Sells 1,300 ETH Amid Ethereum Price Fluctuations appeared on BitcoinEthereumNews.com.

TLDR Ethereum transaction fees hit $45 million, highest since June 2024 Vitalik Buterin sold 1,300 ETH worth $3.35 million in past 12 days ETH price faced resistance at $2,700, currently trading around $2,630 Ethereum ETFs saw $79 million in outflows on September 23 Buterin introduced new “Ethereum alignment” framework to reduce centralization Ethereum, the second-largest cryptocurrency by market capitalization, is experiencing a surge in network activity as weekly transaction fees reached $45 million, the highest level since June 10, 2024. This increase in fees suggests growing participation and usage of the Ethereum network, potentially signaling future price growth. However, the cryptocurrency market is presenting mixed signals, with Ethereum facing both positive and negative indicators. On-chain data reveals that Ethereum co-founder Vitalik Buterin has been selling portions of his ETH holdings. Over the past 12 days, Buterin transferred approximately 1,300 ETH, valued at $3.35 million, to the cryptocurrency exchange Paxos. The most recent transaction involved 649 ETH, worth $1.72 million, deposited within the last 24 hours. These sales occurred as Ethereum’s price showed strength, with Buterin capitalizing on the recent price recovery. Despite Buterin’s sales, other market participants have been taking advantage of price dips. A notable Ethereum whale purchased 10,083 ETH, worth $26.8 million, demonstrating confidence in the asset’s future potential. This smart trader with a 100% win rate in swing trading $ETH bought 10,083 $ETH($26.8M) again 8 hours ago! Since August 12, he has traded $ETH 10 times, making money every time, with a total profit of ~$2.14M!https://t.co/a80xVafIlu pic.twitter.com/BY8aXlSHir — Lookonchain (@lookonchain) September 30, 2024 This trader has a track record of successful ETH swing trades, having generated $2.14 billion in profits since August 12. The Ethereum price recently faced resistance at the $2,700 level, experiencing a 2% correction in the last 24 hours. As of the latest data,…

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Filed under: News - @ September 30, 2024 8:26 am