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Vitalik Buterin Deposited the Coins He Collected for Two Weeks on This Platform - Coin Bulletin
The wallet associated with Ethereum (ETH) founder Vitalik Buterin has deposited money into Aave after two weeks of sales.
According to information transferred by the on-chain and analysis platform Lookonchain, the wallet believed to belong to Vitalik Buterin deposited the **2.27 million USD Coin (USDC) received in exchange for selling 950 ETH over the past two weeks into Aave.
It may support the Ethereum ecosystem.
Vitalik Buterin's sale of ETH has long been criticized by the crypto community. Buterin stated in his statements on the matter that he generally uses the money he receives from here to support projects within the Ethereum ecosystem.
According to Lookonchain data, Vitalik Buterin sent 3,800 ETH to the address he used today. This address has been selling the mentioned 950 ETH at an average price of $2,396 per unit since August 30.
Sales pressure has not come yet
Currently, analysts are noting that there is no selling pressure emerging as a result of this transaction. Selling pressure typically tends to push a token's price down. For example, there was a decrease in the price of Bitcoin following the release of Grayscale's Bitcoin ETF (BTC ETF).
In the case of Solana (SOL), it is observed that this large transfer from the FTX/Alameda wallet did not create selling pressure in the market. However, similar large sales in the past have caused market declines.