Ethereum co-founder, Vitalik Buterin, has reportedly transferred 400 Ethereum (ETH), approximately valued at $600,000, to the digital currency exchange Coinbase. This move is part of a series of ETH deposits to various centralized exchanges over the past ten days, as per data from blockchain analytics platform, Spot On Chain.
Buterin’s recent transaction follows his pattern of depositing Ethereum into different exchanges. According to Spot On Chain, since September 15, he has deposited an estimated 2,421 ETH, worth around $3.94 million. These transactions included 321 ETH deposited to Kraken between September 15 and September 19, 1,700 ETH to Bitstamp in multiple transactions on September 17 and September 20, and 500 ETH to Paxos on September 19.
🚨 @VitalikButerin deposited 400 $ETH to #Coinbase at $1,579 ($632K) 2hrs ago.
Notably, Ethereum’s co-founder has deposited a total of 2,421 $ETH to multiple CEXs at 1,628 on average ($3.94M) via two addresses over the past 10 days.
👉 More details: https://t.co/tiJwn0omkk… https://t.co/C3BqRmsUau pic.twitter.com/8v1jmadwaM
— Spot On Chain (@spotonchain) September 25, 2023
The Ethereum co-founder also reportedly transferred 2,000 ETH ($4.9 million) from another wallet associated with him to the address initiating these transactions. The source of this significant transaction is said to belong to a better-known address of Buterin’s than the one transferring funds to the exchanges.
This is not the first time Buterin has made such notable transactions. In August, a 600 ETH ($1 million) transaction from the vitalik.eth address was identified by on-chain monitoring platforms.
While some market watchers may interpret these transactions as a possible sale of Ethereum, it is crucial to remember that such transfers could have numerous explanations. They might be related to personal financial management, funding for projects, or even a simple reshuffling of assets.
Buterin’s impact on ETH price
As of today, the price of ETH stands at approximately $1,567.91 USD, with a 24-hour trading volume of roughly $4.39 billion USD. Despite a minor dip in the last 24 hours, representing a 1.54% decline, the cryptocurrency maintains a robust market presence. This slight decrease can be attributed to the inherent volatility of the crypto market and not necessarily linked to individual transactions or movements.
