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Vitalik Buterin Continues Selling Ethereum, ETH Price Dips 2% from Resistance

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6 months ago

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The latest on-chain data shows that Ethereum co-founder Vitalik Buterin has continued to sell the altcoins from his ETH holdings. After showing major strength this past week, the ETH price faced selling pressure from $2,700 correcting 2% more in the last 24 hours.

Vitalik Buterin Continues Selling Ethereum

As per the on-chain data from SpotonChain, Ethereum co-founder Vitalik Buterin has transferred nearly 1,300 ETH to crypto exchange Paxos in the past 12 days. It also shows that a wallet belonging to Buterin, identified as “0x556,” deposited 649 ETH (valued at $1.72 million) to Paxos in the last 24 hours.

Earlier this month on September 19, the same wallet received 1,300 ETH ($3.21 million) from another wallet, “0xd04,” funded by Buterin with 70,000 ETH back in 2022. Over the past 11 days, wallet “0x556” has transferred all 1,300 ETH to Paxos, capitalizing on Ethereum’s price recovery. The average sale price was $2,581 per ETH, totaling $3.35 million.

The recent wallet movements happened as Vitalik Buterin unveiled the concept of ‘Ethereum alignment’ as a measure to enhance the Ethereum ecosystem. This new framework seeks to provide a balance between decentralization and the Ethereum ecosystem. Furthermore, this initiative of “Ethereum Alignment” also focuses on reducing centralization while fostering projects that support public goods.

It seeks to unite researchers, client teams, and developers in their efforts to build a cohesive and decentralized ecosystem. Additionally, Vitalik Buterin highlighted the importance of open-source principles, which promote transparency and security across the network.

While the Ethereum co-founder has been selling, smart whales have been buying the ETH dips. Lookonchain reported that a savvy Ethereum trader purchased 10,083 ETH worth $26.8 million just eight hours ago.

With a flawless track record, the trader has executed 10 successful ETH swing trades since August 12, thereby minting a total of $2.14 billion in profits. On the other hand, the spot Ethereum ETF inflows also resumed last week showing institutional participation.

ETH Price Faces Resistance

After showing strength during the past week, the Ethereum price has corrected 1.34% in the past 24 hours and is currently trading at $2,626.78 with a market cap of $316 billion. Popular crypto analyst Daan Crypto stated that “ETH is yet to make a higher high, something that BTC managed to do last week”. Thus, the bulls still need to put in additional efforts to confirm the trend reversal.

However, for this to happen, the ETH price first needs to surge past its 200 EMA at $2,800 to confirm an overall upside momentum.

The ETH price correction comes amid the broader market drop in early trading hours on Monday as the market braces for volatility ahead of the US jobs data release this week.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Analyst Forecasts 250% Dogecoin Price Rally If This Level Holds

Published

2 hours ago

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April 3, 2025

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A renowned crypto analyst caused a huge market stir by forecasting a highly bullish outlook for Dogecoin price this Thursday. Market expert Ali Martinez revealed that a roughly 250% rally for the dog-themed meme coin to the $0.5 level looms. However, this bull run is possible given that the meme token holds above key support at $0.16. DOGE price exchanged hands at $0.1662 as of press time, igniting optimism over a rally ahead.

Dogecoin Price Eyes Over 250% Gains; Top Analyst Highlights Conditions

Ali Martinez on April 3 revealed that the $0.16 price level presents itself as a ‘make-or-break’ point for Dogecoin price via a post on X. According to him, if the price holds this level, a potential rally to $0.57 awaits, which is up nearly 256% from the current level.

However, failing to hold this level could result in a drop to $0.06, per the analyst. As a result, the key support level remains much-eyed by market watchers as the meme coin currently trades near it.

Dogecoin Price Chart analysisDogecoin Price Chart analysis
Source: Ali Charts, X

As mentioned above, the price is trading at $0.1662 with an intraday loss of over 3%. It bottomed and peaked at $0.1624 and $0.1787 over the past day, preventing losing support of $0.16. In an upshot, market watchers eye the token optimistically, expecting a sustained movement and thereby, a rally.

What Are The Next Resistance Levels For Dogecoin Price?

In another X post shared previously, the same analyst highlighted vital resistance levels for the dog-themed meme coin. Notably, the price faces two key resistance barriers at $0.18 and $0.21.

Dogecoin price resistance levelsDogecoin price resistance levels
Source: Ali Charts, X

A sustained breakthrough above these resistance levels paves the way for a +250% bull run for DOGE price. In the wake of these price dynamics, crypto traders and investors are now glued to the meme coin’s price chart and await a trajectory shift.

Derivatives Data Sparks Speculations

However, Coinglass data has sparked contrary investor speculations by showcasing a decline in futures OI. DOGE futures OI was down over 3% to $1.56 billion today. This stat underscored slightly reduced investor interest in the meme token despite bullish predictions. Besides, the derivatives volume witnessed a 40% jump to $5.24 billion, adding a layer of intrigue to the market sentiment.

Crypto market traders and investors expect short-term volatility amid the dynamic market stats, whilst long-term prospects remain bullish. Also, a Dogecoin price prediction by CoinGape revealed that the technical chart on the weekly time frame showcases a bullish engulfing pattern. This formation suggests a strong momentum favoring buyers. Overall, broader market sentiments orbiting the meme coin remain bullish.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Binance Sidelines Pi Network Again In Vote To List Initiative, Here’s All

Published

5 hours ago

on

April 3, 2025

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As Binance’s Vote to List initiative kicks off, the exchange has turned its back on Pi Network for the second time. Binance is proceeding with the decentralized listing program but Pi Network is noticeably absent from the raft of cryptocurrencies.

Pi Network Fails To Make Binance List

Pi Network enthusiasts are in limbo following the absence of the token in Binance’s Vote to List initiative. According to a press release, Binance has opened voting for its second Vote to List initiative.

This time, 12 tokens are up for community voting, with Binance proceeding to spot-list successful tokens. Apart from vote count, Binance says it will consider trading demand, a risk assessment, and a compliance check to decide on tokens that will make the listing.

The selected tokens include VIRTUAL, BIGTIME, UXLINK, MORPHO, GRASS, ATH, WAL, SAFE, ZETA, IP, ONDO, and PLUME. While the first focused on memecoin, the second iteration beams a searchlight on utility tokens cutting across several verticals.

Back in March, Binance excluded Pi Network from its first edition of the Vote to List initiative. Binance has clarified that only BNB-based projects will be allowed to participate in the Vote to List initiative, dousing optimism for Pi Network enthusiasts.

When Will Binance List The Asset?

Despite Pi missing out on the Vote to List program, there is still a ray of hope for community members. Binance can list Pi via a direct listing in the future but a timeline is unavailable.

Experts say a lack of transparency by The PiCoreTeam (PCT) is a reason why Binance has not listed Pi Network. Particularly, the exchange took swipes at the PCT for failing to give proper disclosures on the Pi Network’s locking and burning mechanism.

Pi Network secured a major listing on the BTCC Exchange, bringing the token closer to being listed on mainstream exchanges. While a listing hovers on the horizon for Pi, the PCT’s domain auction is gathering steam with over 200,000 bids.

Pi price has been largely underwhelming over the last day, losing nearly 5%. Pi trades at $0.6646 to drop below the $0.7 mark for the first time in over a month.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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First Digital Trust Denies Justin Sun’s Allegations, Claims Full Solvency

Published

9 hours ago

on

April 2, 2025

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Following a reserve crisis that hit TrueUSD and Justin Sun’s intervention, First Digital Trust denied claims of insolvency. The Trust, at the center of the fiasco, says it is fully solvent while accusing Sun of sensationalism.

First Digital Trust Refutes Allegations Of Insolvency

First Digital Trust has released a statement debunking allegations of financial impropriety and insolvency. According to the statement, First Digital Trust says it is completely solvent while accusing Justin Sun of falsehood.

The Trust has been at the center of a whirlpool of a liquidity crisis involving TrueUSD (TUSD) with Justin Sun stepping in to stabilize the stablecoin with a capital injection. The Tron founder launched a tirade against the Hong Kong-based trust, accusing it of financial mismanagement including unauthorized trade finance loans.

“The recent allegations by Justin Sun against First Digital Trust are completely false,” read the statement.

The Trust disclosed that its FDUSD stablecoin is solvent and backed by US Treasury Bills. Per the statement, the legal dispute surrounding TUSD has nothing to do with FDUSD, accusing Sun of a smear campaign. First Digital Trust says it has not had the opportunity to defend itself in court, accusing Sun of launching social media attacks.

“This is a typical Justin Sun smear campaign to try to attack a competitor to his business,” added First Digital Trust.

Justin Sun Maintains His Stance

Justin Sun remains firm in his resolve that First Digital Trust is insolvent while urging investors to cut ties with FDUSD. He warns that the Trust founder Vincent Chok will face the full wrath of the justice system.

“First Digital Trust (FDT) is in fact insolvent,” said Sun. “If you have any relationship with it, please cut off contact as soon as possible to protect your assets.”

Following his accusations, FDUSD lost its peg and traded at a low of $0.88, a steep drop before crawling to $0.98. The loss of $130 million from its market capital has rattled investors with critics taking swipes over its de-pegging.

The Tron founder has covered every blade of grass in recent days, buying $75M of the Trump memecoin. Last week, Justin Sun weighed in on TRX’s halving proposal, supporting a proposal to mirror Bitcoin’s pattern.

The stablecoin drama comes as the US is inching toward tighter stablecoin regulation with the GENIUS Act and STABLE Act.

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Aliyu Pokima

Aliyu Pokima is a seasoned cryptocurrency and emerging technologies journalist with a knack for covering needle-moving stories in the space. Aliyu delivers breaking news stories, regulatory updates, and insightful analysis with depth and precision. When he’s not poring over charts or following leads, Aliyu enjoys playing the bass guitar, lifting weights and running marathons.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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