Ethereum’s founder Vitalik Buterin has transferred 600 ETH, worth $1 million, to Coinbase, as reported by Etherscan. This move has quickly caught the crypto community’s attention and sparked speculation that it would trigger a pullback in Ethereum’s price.
Crypto experts have pointed out that his position is losing money.
However, some crypto experts also said that Buterin’s net flows from his vitalik.eth address have been in negative. The position of Buterin is at a 23% loss, according to on-chain data.
One theory raised by crypto members is the possibility of tax loss harvesting. Tax loss harvesting involves selling assets at a loss to offset gains in other investments and reduce tax liabilities.
It is also worth remembering that the big B is worth a lot of money, and he might not be concerned with small losses.
What is The Move About?
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