Not only Bitcoin has experienced in 2017, an enormous Boom, even Ethereum could save from sheer demand. ETH rate exploded and reached more than 1,400 USD in January 2019. But the pleasure was short-lived. Briefly thereafter, the Crypto that began in the Winter, and the Ethereum rate was as little spared. So what could have been the sudden slump triggered? It was a natural correction or have played here ETH Whales have an important role? In a new Interview Vitalik Buterin, the Co-Founder of Ethereum, have been well known some of the Details that might raise some questions.
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100,000 of the ETH have been sold due to Buterin
Buterin Eric Weinstein, a well-known Podcaster and Managing Director of Thiel Capital, has given an Interview and said that the Ethereum Foundation has sold 70.000 ETH almost at all-time high.
I brought the Ethereum Foundation to sell 70,000 to ETH than the price was at an all-time high. This has given us more air to Breathe, so it was a good decision that has a big influence until today.
If we assume that the Ethereum Foundation is to sell it managed to 70.000 ETH at 1,400 USD, then the equivalent of USD 100 million. In addition, Buterin has been sold by the end of 2017 its own Funds. A total of 30,000 ETH of Buterin at that time on the market has, and have about introduced 22 million USD.Ethereum with up to 50x trade and sign up bonus secure. Sign up today for free on Bybit, and secure you a Deposit bonus of up to $ 60 USD. Here you can not only rising, but also falling share prices. The registration takes 5 minutes and there is no KYC needs to be carried out. Most Bybit today and see for yourself! Sign up now for free
Ethereum was overvalued in Buterins eyes completely
The reason why is sold Buterin at this time itself and the Ethereum Foundation asked also to do the same, was, because, in his eyes, Ethereum is still too little value created, in order to enjoy such a high rating. At the time, Ethereum had nearly 132 billion USD in market capitalization. In short: Ethereum was overvalued in Buterins eyes completely.Eric asked Buterin, whether he had taken a Short Position, if it is assumed that Ethereum is overrated. This is a question he has answered in the negative. Nevertheless, he has recognized, obviously, the Chance to have a disproportionately good rate its ETH, AND to sell the Ethereum Foundation.Overall, were thrown within a relatively short period of time to 100,000 ETH on the market. In addition, many of the ICOs, which were mostly in ETH geraised have sold, your Funds also. Thus, there was a huge surplus of Supply which has been shown in the end in a crashing course. We can’t say at this point, of course, clear that Buterin and the Ethereum Foundation have manipulated the rate. But it is also clear that such a supply shock has certainly played an important role in pressing the course.The Ethereum Foundation and Buterin were the strong sell-off from ETH in 2018 responsible? You look better Videos to read the article? Then look at our Youtube Channel over.[Image Source: Shutterstock]