- Vitalik Buterin transferred 1.3 million STRK tokens, sparking speculation and market movement.
STRK’s price increased by 4.53% following Buterin’s transfer, hinting at a potential rally.
As an analyst with over two decades of experience in the cryptocurrency industry, I’ve seen my fair share of market movements sparked by influential figures like Vitalik Buterin. His recent transfer of 1.3 million STRK tokens has undeniably sent ripples through the crypto market, as we’ve witnessed a surge in STRK’s price following such actions before.
Lately, the co-creator of Ethereum (ETH), Vitalik Buterin, transferred approximately 800 Ether valued at around $2.1 million into a multi-signature wallet. This action has fueled speculation about a potential significant sale
Vitalik Buterin moves STRK
On September 4th, Vitalik Buterin, in turn, released and cashed out approximately 1.268 million STRK tokens, worth around $470,000, from the Locked Token Grant agreement with Starknet
This news was brought to light by Wu Blockcahin’s X post, which noted,
“Vitalik Buterin currently holds a total of 2.113m STRK, worth about $781,000, which is his most valuable token besides ETH. Vitalik Buterin is one of the early investors in StarkNet.”
The value, which stands at approximately $854,730 when considering each token as costing $0.39, has ignited interest in understanding Ethereum co-founder Buterin’s future strategies
Currently, STRK ranks as Vitalik Buterin’s second-biggest crypto asset, trailing only Ethereum. Interestingly, in May, he also moved 845,205 STRK tokens, an action that significantly boosted the token’s value
Impact on STRK token
It seems that the recent transaction has prompted a response in the market comparable to what we’ve seen before. As per the latest information from CoinMarketCap, STRK has risen by 4.53% over the past day, currently trading at $0.3983
According to AMBCrypto’s study of trading data on TradingView, there seems to be a somewhat optimistic outlook, as the Relative Strength Index (RSI) is slightly above the neutral level at 51, suggesting possible growth in price direction
However, with the RSI dipping slightly downward, this bullish outlook remained uncertain.
From my perspective as an analyst, it’s worth noting that the MACD line sitting above the Signal line indicates a bullish trend in the market. This suggests that buying pressure is stronger than selling pressure, which could potentially lead to price increases
If STRK manages to break through its resistance at $0.43, it could indicate a prolonged uptrend might be imminent
Vitalik Buterin’s other transfer
Prior to the STRK token withdrawal, Vitalik Buterin shifted several tokens such as PIKA, ETH, DIMO, and POKT among his digital wallets, leading to speculation about his upcoming plans
As an analyst, I’m observing a series of transactions that seem reminiscent of previous charitable contributions made by him
Others see these moves as strategic reallocations within his portfolio.
No matter what his reasons are, Buterin’s actions spark interest in his wider strategies, leading the market to speculate about future advancements
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2024-09-05 17:28