Ethereum co-founder Vitalik.eth has made headlines with a recent sale of 28 meme coins, totaling 984,000 USDC.
In a generous move, Vitalik donated the full amount to the Kanro address, his charity wallet. The sale, however, impacted the prices of several low-market-cap meme tokens. DINU, for instance, plunged by 68%, while JSHIBA saw a sharp decline of 38%.
https://twitter.com/WuBlockchain/status/1876267560636969360?t=yBXDsRD17nk5Z8GChltpoA&s=19
Brother Band Closes 2,000 ETH Short Position
In another significant development, the investor known as Brother Band decided to buy back 2,000 ETH (worth approximately $7.29 million) that he had previously shorted earlier in the day. This buyback signals a possible exit from the short position, and with a current floating loss of $3.93 million, the decision to hold or cut losses remains uncertain.
https://twitter.com/EmberCN/status/1876213330861584757
Ethereum Spot ETF Sees Outflows
On the institutional side, Ethereum’s market has been under pressure, with a net outflow of $38.2 million from Ethereum spot ETFs between December 30 and January 3. The Bitwise Ethereum ETHW ETF saw the largest outflow, with $56.11 million leaving the fund. These outflows reflect growing caution among institutional investors, possibly in response to ongoing market volatility.
https://twitter.com/WuBlockchain/status/1876135685406806282?t=hED1_mGFpz-WqjkH_w-SJQ&s=19
Conclusion
The past few hours have seen significant movements in both retail and institutional Ethereum markets. Vitalik.eth’s donation, Brother Band’s short covering, and Ethereum’s ETF outflows highlight a market in flux. Investors will need to carefully watch these developments to gauge the next moves in the evolving Ethereum landscape.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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