Vitalik Buterin, the founder of Ethereum (ETH), and the ETH Foundation recently sold $30 million in ETH just before it is anticipated to break the $2,000 level. This comes shortly after Buterin sent nearly $400,000 worth of Ethereum to a major exchange. The transaction was tracked by @lookonchain, a platform that follows large crypto transfers.

The second largest cryptocurrency, Ethereum, is currently trading at the $1,960 level, according to Santiment data company. This puts ETH on the path to breaking the $2,000 mark shortly. Previous transactions by Buterin were also noteworthy, as in the middle of February, he traded 210 ETH (roughly $325,000) in the USDC stablecoin.

In addition to Buterin and the ETH Foundation, whale alert has recently reported a surge in ETH being deposited into exchanges. This record level of activity is the highest since November of last year, pointing to a possible increase in Ethereum's volatility in the near future. The surge is likely due to the growing popularity of meme coins, which are usually built on Ethereum and require ETH fees for transactions.

It's important to note that Ethereum isn't just being withdrawn from exchanges, as the network also saw a record amount of ETH being burned this week. This means that the circulating supply of ETH is decreasing, which can have a positive effect on its price in the long run.

Overall, Ethereum is currently in a strong position, as indicated by its price near the $2,000 level, along with the significant amounts of ETH being taken off of exchanges. No matter how the market reacts, it's clear that demand is high for Ethereum and that users remain optimistic about its future.



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