Ethereum co-founder is dumping e should You sell all your e now or should you Take advantage of these low prices and Buy the dip welcome back to 99b YouTube Channel I'm Mar Khan and today we're Talking about ethereum specifically the Co-founder of ethereum metallic dumping Ethereum ethereum co-founders 2.1 eth Transfer races eyebrows wise metallic Burton dumping so previously signaling e Transfers by botin such as his $1 Billion donation 2021 have noticeable Impact on ethereum's price ethereum's Core developments are discussed future Network upgrades which could incl uh Which could influence long-term adoption And price um recovery is this going to Be the covant caveat for ethereum to Pump or is it just going to be dumping From here let's go ahead and jump right Into it first of all going to coin Mark Cap seeing the overall Market kind of Red we are up 0.3% on the 24hour right Now fearing greed index currently at a 46 neutral we take a look at the top Cryptocurrencies Bitcoin and ethereum Both kind of in the red ethereum down Nearly 9% on the week Bitcoin down Nearly 7% on the week ethereum's current Price at $2500 the question is are we going to See a reversal from here or is ethereum Going to fizzle out now obviously to Make a long story short ethereum is
Definitely not just going to fizzle out It's still currently trending number Seven on coin Mark cap but forget about Its trending position guys it's Literally ranked number two in the Highest uh market cap coin on coin Market cap at $33 billion Market Mark Cap so again an absolute massive Mark Cap we see this dipping hard earlier Today at 2450 Mark which looks like a Strong recovery Point uh a strong Resistance line at least we can see over Here and we see as for the tldr the Japanese government announced plans to Reform tax laws to promote the adoption Of web 3 which could benefit ethereum Openc a popular nft Marketplace saw a Significant increase in sales volume uh In um indicating growth interest in nfts Market on ethereum Sony back ethereum L2 Launching with Mino test for Builders Along with um the solarium spark program To support builders on chain ethereum Founders Sparks the debate over the Sustainability and importance of current Ethereum defi ecosystem in the last 24 Hours this is how the price move up 0.3% and trade volume moved 10% to the $ 15.37 billion Mark now that's a tldr for Today we're see in terms of price Fluctuation we are seeing a lot of price Fluctua we see vitalic Bren transferred 800 e which is roughly $2 million Uh to to a a multi sign 0x Feb which was
Sold at 190 W for 477 usdc just now and The source is spot on chain so it's Interesting to say the least of what the Heck is going on and what this really Means for ethereum obviously Bitcoin Being a massive um component in this Current bull market having its Interesting days ethereum obviously is a Second front runner we can see ethereum Co-founder 2.1 uh transfer raising Eyebrows etherum co- founder reveals Salary amid growing Foundation scrutiny Uh we see some sha enu related news the Whole point is ethereum is trending Again and over on Twitter guys right now Vitalic is trending I guess he's not Trending anymore but earlier today he Was trending and this is a massive tweet That's been kind of raising iOS so Vitalic is selling E Today vitalic Transferred 800 e to a uh multi- wallet The multisig swapped 190 e for 477k in Usdc he also transferred 3,000 e August 9th continuous selling pressure on E and Less infrastructure demands e ETFs saw An outflow looks like people are selling A little bit of the ETFs as well but Again guys we're sitting in an Interesting position where we are seeing Crypto P crypto relevancy going higher See brought up in the news L getting Brought up in the presidential campaigns We are anticipating to see a swift Recovery now with these uh shaky days
Especially days where we're seeing this Dumping as causing a lot of panic Selling it might just be a shake up for The big players in the game and again I Would just take this with a grain of Salt I wouldn't necessarily start saying Dump your bags uh because as we can see Even here vitalic made a bullish tweet Then dumped his b right after he's Officially KO again I don't know what Games are going on here but I don't Think it's the end ethereum just yet so Co-founder 2.1 e transfer raised Eyebrows why is he dumping again it Could just be an exit position we can See what happened initial transfers Reported by blockchain analyst um and Has drawn um particular attention due to The subsequent uh conver conversation of 190 e being sold this particular Conversation uh conversion to a stable Coin as further few theories as a Possible larger sell off by The Prominent ethereum whale now again it's Actually good if vitalic are selling a Most of his bag now as to when it pumps Like crazy because then we will see a Crazy dump kind of like we saw what Happened with shba enu I think he just Needs some liquid cash and he's sold I Don't think this is a raise for alarm It's not like he's dumping his entire Bag it's not like it's the end of the Eth infrastructure I just think it was
Uh a day in the news to say the least And I think the long-term future for Ethereum is looking very promising but Like always n this is financial advice Always your own research and do Diligence before investing any money in The cryptos we cover on this channel That pretty much drops the video until Next time it is your friend Umar a [Music] [Music]