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In a significant update, the wallet address associated with Ethereum's co-founder, Vitalik Buterin, known as "vital.eth," has carried out a transfer of 3,000 ETH, equivalent to around $4.95 million, to an address labeled "Vb 2." This transaction follows Buterin’s recent transfer of 600 , valued at almost a million dollars, to the Coinbase crypto exchange. These substantial transactions have prompted concern within the community, leading to apprehensions about potential further price declines. Despite a recovery attempt that pushed Ethereum’s price above the $1,640 threshold, it is encountering resistance at levels of $1,660 and $1,670. If the resistance at $1,670 holds, continued downward movement is possible. The current trading price for ETH is $1,642.67, representing a slight decline of 0.40% over the past 24 hours. Amidst these fluctuations, the expansion of the Ethereum ecosystem remains noteworthy. Notably, Miles Deutscher, a prominent trader and crypto expert, highlights the rapid increase in active addresses across both Layer 1 and Layer 2 solutions, reaching a record high of 1.97 million. This optimistic perspective contrasts with the more cautious stance voiced by analyst Ali, who suggests that if Ethereum falls below the $1,600 – $1,550 range, it could trigger a significant correction ranging from 37% to 45%, with a target price of $1,000. Additionally, despite growing interest in Ethereum, its price continues to decline. Recent developments include the submission of two Ethereum proposals to the U.S. Securities and Exchange Commission (SEC). These proposals, presented by ARK Invest and 21Shares, encompass an “ARK 21Shares Active Ethereum Futures ETF” (ARKZ) and an “ARK 21Shares Active Bitcoin Ethereum Strategy ETF” (ARKY).
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