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Ethereum price slips further as Vitalik Buterin dumps $6.6M ETH

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Ethereum coin displayed in front of a trading monitor showing a downward market trend, with crypto wallets and coins symbolising transfers during a price decline.
Ethereum coin displayed in front of a trading monitor showing a downward market trend, with crypto wallets and coins symbolising transfers during a price decline.
  • Ethereum price drops to $2,127 amid market weakness and high volatility.
  • Vitalik Buterin sells $6.6M ETH, part of planned funding moves.
  • Key support at $2,007, with resistance targets at $2,133 and $2,274.

Ethereum (ETH) is under pressure as the cryptocurrency continues to face a significant pullback.

The price of ETH has dropped to $2,098.91, down 5.6% in the last 24 hours.

ETH price chart
Ethereum price analysis | Source: TradingView

This decline is part of a broader downtrend, with Ethereum losing around 28% over the past week and nearly 34% over the past three months.

Trading volume, however, remained elevated at $54.5 billion in the last 24 hours, highlighting strong market activity despite the falling prices.

Vitalik Buterin’s ETH trades

Adding to the market concerns, Ethereum co-founder Vitalik Buterin has sold millions in ETH.

Reports indicate that wallets linked to Buterin moved roughly 2,961.5 ETH, valued at approximately $6.6 million at the time of sale.

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These transactions attracted attention due to the timing of the Ethereum downturn.

Additional reports highlight a separate $29 million ETH transfer, part of a planned reallocation by Buterin.

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The movement included converting ETH to wrapped ETH (wETH) and sending smaller amounts to his Kanro charity, which focuses on biotechnology and infectious disease research.

Analysts stress that these transfers are likely strategic funding moves, not panic selling.

Nevertheless, the market has interpreted these large movements as bearish signals.

ETH price analysis

Ethereum has been under pressure due to broader crypto market weakness.

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The 24-hour price range for ETH is currently $2,077.42 to $2,258.21, reflecting volatility and uncertainty.

Ethereum’s market capitalisation stands at $257 billion, with a circulating supply of 120.6 million ETH.

The cryptocurrency is still down 57% from its all-time high of $4,946.05 in August 2025.

Despite the decline, Ethereum remains a major player in the crypto ecosystem, with investors closely monitoring large wallet movements.

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Ethereum price forecast

Traders are watching key levels for signs of market direction.

The first support level to monitor is $2,007.

If ETH fails to hold this level, it could drop further to the next support at $1,800.

On the upside, $2,133 is the initial resistance level.

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A sustained break above this could push Ethereum toward $2,274, with the third resistance at $2,396.

Analysts like CoinLore suggest that maintaining a price above the $2,007 support is critical for any potential recovery.

Conversely, breaking below this level could accelerate selling pressure and test lower price floors.

In conclusion, Ethereum faces a challenging period as both founder wallet activity and broader market trends weigh on the price.

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Traders should pay close attention to the support and resistance levels, as these will likely guide short-term movements in ETH.

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Crypto World

Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens

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Ethereum Price Prediction

Crypto analyst Ansem argues that Ethereum (ETH) is in a “worse spot” in 2026 than it was in 2023, pointing to a thesis he says has been eroding for years.

His bearish take drew rebuttals from some members of the community. Meanwhile, on-chain activity and technical indicators elsewhere on the network flash bullish signals.

Ansem Lists Cracks in the ETH Thesis

Ansem argues that Solana (SOL) has dominated retail activity this cycle. Hyperliquid has taken the lead in perpetual futures trading, while rollups have failed to gain traction.

He also noted that Vitalik Buterin “publicly abandoned” the general-use rollup thesis. The ongoing Aave (AAVE) situation around the KelpDAO rsETH exploit, Ansem said, is a mark on  Ethereum’s core value proposition of “safety + security of defi & insto interest.

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“ETH thesis has been weakening consistently for years,” the analyst wrote. ETH in 2026 is in a worse spot than it was in 2023, amplified by AI doing extremely well & tech stocks being much more favorable investments with real revenues / emerging narratives / increasing momentum, ETH is a $300B asset with a ton of overhang from Tom Lee topblasting + complacent ETH holders sitting idle in defi protocols.”

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Technically, the analyst noted that ETH remains in a sustained downtrend after failing to break multi-year resistance. He projected that the second-largest cryptocurrency could slip to 2025 lows near $1,300 and to the bear-market lows from 2022.

“Tight invalidation 2377 assuming problems worsen if you want to play it loose assuming other risk assets continues doing well & drags it up probably somewhere around 2700/2800 invalidation fundamentals wise would want to see breakout activity from some new vertical,” the post read.

Ethereum Price Prediction
Ethereum Price Prediction. Source: X/Ansem

Community Members Push Back

The take triggered notable pushback. Ryan Berckmans accused Ansem of not understanding fundamentals. Leo Lanza went further, sharply dismissing the analyst’s bearish case on X.

Another user pointed to a 56% drop in the SOL/ETH pair this cycle.

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“Soleth is down 56% after being up 12x+ *this cycle* because one guy decided to buy 5% of the eth supply after it had underperformed all cycle. idk why you guys act like i dont also bearpost solana i havent posted anything bullish about sol in over a year,” Ansem replied.

Not everyone shares the bearish view on Ethereum. BeInCrypto recently highlighted that network activity remains strong, while technical indicators like the Rainbow Chart and MACD are also flashing bullish signals.

With macro and geopolitical uncertainty still in play, the question is whether ETH slides further this year or stages a renewed rally.

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The post Ansem Says Ethereum Is in a Worse Spot Than 2023 as Thesis Weakens appeared first on BeInCrypto.

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

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Aave’s TVL Falls $8B After $293M Kelp DAO Hack

Total value locked on decentralized lending protocol Aave dropped by nearly $8 billion over the weekend after hackers behind the $293 million Kelp DAO exploit borrowed funds on Aave, leaving roughly $195 million in “bad debt” on the protocol and triggering withdrawals.

Data from DeFiLlama shows that Aave’s TVL fell from about $26.4 billion to $18.6 billion by Sunday, losing the top spot as the largest DeFi protocol. 

Aave v3’s lending pools for USDt (USDT) and USDC (USDC) are now at 100% utilization, meaning that more than $5.1 billion worth of stablecoins cannot be withdrawn until new liquidity arrives or borrows are repaid. 

$2,540 is available to be withdrawn from the $2.87 billion USDT pool on Aave v3 at the time of writing. Source: Aave

Aave’s TVL fall shows how rapidly risk from a single security incident can spread throughout the broader, interconnected DeFi lending market, potentially leading to a severe liquidity crisis.

The incident began on Saturday when hackers stole 116,500 Kelp DAO Restaked ETH (rsETH) tokens worth about $293 million from Kelp DAO’s LayerZero-powered bridge and used them as collateral on Aave v3 to borrow wrapped Ether (wETH).

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Crypto analytics platform Lookonchain said the move created about $195 million in “bad debt” on Aave, which contributed to the Aave (AAVE) token tanking nearly 20% from $112 on Saturday at 6:00 pm UTC to $89.5 about 25 hours later. 

Lookonchain noted that some of the largest crypto whales to withdraw funds from Aave were the MEXC crypto exchange and Abraxas Capital at $431 million and $392 million, respectively.

Source: Grvt

Several crypto networks and protocols tied to rsETH or the LayerZero bridge have paused use of the bridge until the problem is resolved, including DeFi platform Curve Finance, stablecoin issuer Ethena and BitGo’s Wrapped Bitcoin (WBTC).

Aave has frozen several rsETH, wETH markets

Shortly after the Kelp DAO exploit, Aave said it froze the rsETH markets on both Aave v3 and v4 to prevent any suspicious borrowing and later stated that rsETH on Ethereum mainnet remains fully backed by underlying assets.

WETH reserves also remain frozen on Ethereum, Arbitrum, Base, Mantle and Linea, Aave said.

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This incident marks the first significant stress test of Aave’s “Umbrella” security model, which was introduced in June 2025 to provide automated protection against protocol bad debt while enabling users to earn rewards.

Related: Aave DAO backs V4 mainnet plan in near-unanimous vote

Earlier this month, the Bank of Canada found that Aave avoided bad debt in its v3 market by using overcollateralization, automated liquidations and other strategies that shifted risk to borrowers.

In comments to Cointelegraph, Aave defended its liquidation-based model, framing it as a core safety mechanism that protects lenders while limiting downside for borrowers.

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It comes as Aave parted ways with its longest-standing DeFi risk service provider, Chaos Labs, on April 6, following disagreements over the direction of Aave v4 and budget constraints.

Magazine: Are DeFi devs liable for the illegal activity of others on their platforms?