Vitalik moved 7000 ETH, retail investors panicked, I just laughed

$ETH Today 1,580, up a few tenths of a percent, still grinding.

But none of that matters, what matters is the news below — Vitalik’s associated address transferred 7000 ETH, possibly going to be deposited into an exchange.

7000 ETH, at the current price, is about 11 million dollars. Not a huge amount, not a small amount either. But for someone like V God, transferring tens of millions of dollars is as normal as us transferring a few hundred bucks.

But the market doesn’t think that way. As soon as the news came out, the group chats exploded. "V God is going to dump!" "Run!" "ETH will drop to 1,000!"

I’m thinking, can’t V God just be making a normal transfer? Can’t he be reorganizing his wallets? Can’t he be sending a red packet to a friend? Why does everyone immediately say he’s going to dump when they see a large transfer? How much psychological trauma must those retail investors have suffered? Besides, if V God really wanted to dump, would he use his own associated address? He could just use some anonymous wallet. Using a known address for a transfer is basically a normal operation, nothing to make a fuss about.

However, this kind of news in the current market conditions is indeed easily amplified. ETH has almost halved from its peak, everyone is already nervous, and any small sign makes them anxious. Plus the $1.7 billion unrealized loss of that holding institution, and all the news about whales being trapped, the market sentiment is indeed fragile.

But I think, V God’s 7000 ETH really isn’t a big deal. He has a ton of coins, what impact can transferring a few thousand cause? If he had big plans, he wouldn’t be telling you so openly.

At ETH’s current position, what we should worry about is not V God moving 7000 coins, but when the overall market confidence will recover. When confidence returns, even if V God moves 70,000 coins, it won’t stop the rise. If confidence doesn’t return, it will drop even if he doesn’t move any. So I choose to keep lying low, whether V God transfers or not has nothing to do with me. When he actually deposits into an exchange, then I’ll take a look. Analyzing now is just scaring myself.#灰度HYPG现货ETF单日吸金1.08亿
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