Ethereum’s Vitalik Buterin Allegedly Cashed Out $40 Million In ETH From His Holdings

Ethereum price prediction 2019 has been influenced by many factors. Apart from the fact that the Ethereum news over the last few months has been mostly positive, the successful implementation of the Ethereum Constantinople hard fork helped drive positive sentiment in the Ethereum community. Ethereum’s Vitalik Buterin, the co-founder of the blockchain, has always been certain that Ethereum is here to stay. The Vitalik Buterin Twitter handle actively promotes the Ethereum blockchain. Recently, the founder of Tetras Capital posted evidence that Buterin had cashed out $40 million in ETH. What does this say about the Ethereum price prediction 2019?

What Does Buterin’s Account Activity Say About The Ethereum Price Prediction 2019?

According to Alex Sunnarborg, Ethereum’s Vitalik Buterin cashed out $40 million in ETH out of his ETH holding. Keep in mind that this wasn’t in a single transaction but happened within June 2017 and February 2018. This activity was from the main account of Buterin and the data was gotten from Etherscan.

The data revealed that since the year 2015, Ethereum’s Vitalik Buterin has cashed out 544,998 ETH. While $9 million was cashed out before June 2015, the remaining $40 million was cashed out between June 2015 and February 2018. The Buterin Ethereum wallet is currently worth $50 million. However, when the price of cryptocurrencies hit their all-time highs in 2017, the net worth of the account was about $500 million.

Ethereum (ETH) Price Today – BTC / USD

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On Twitter, where Sunnarborg posted the data, he asked Buterin to confirm the details. In reply, Ethereum’s Vitalik Buterin said that he hasn’t cashed out more than $915 at a given time. He said that his fiat holdings amount to around $30 million and he had given out $8 million in donations. This isn’t a surprise as Buterin is well known for his donations. Over the years, he has made several donations in ETH. Apart from donations to charity, he has also donated to tech ventures and nonprofit organizations over time.

Members of the cryptocurrency community have been looking for a relationship between the activity on Buterin’s account and the Ethereum price prediction 2019. Well, for one thing, the account is still bulky. This means that even with the major marker wide sell-off, the founder of Ethereum still has confidence in the network and in the industry as a whole. If Buterin was losing faith in the market, he would have cashed out all his cryptocurrency and abandoned ship. So, if you’re an ETH holder, you should probably keep holding.

Since it reached a low of $85 last year, the price of Ethereum has recovered by almost 100% trading as high as $160 before it started reversing against the USD. At the time of writing, ETH was trading in red at $138.29. This means that it is down by 0.95% against the USD and down by 0.43% against BTC. The market capitalization is $14,567,735,729 and the trading volume is $5,043,232,696.

Do you think Ethereum’s Vitalik Buterin’s account activity is any reason for positive Ethereum price prediction 2019? Share your thoughts in the comment section.

Ufuoma Ogono is a cryptocurrency writer with over 3 years experience in the cryptocurrency industry. She dedicates her time to sharing valuable information to members of the cryptocurrency community.

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