Ethereum’s co-founder, Vitalik Buterin, has made a significant transaction. Blockchain analytics from etherscan.io confirmed that Buterin transferred 600 Ethereum (ETH), equivalent to approximately $1 million, to the renowned digital asset exchange, Coinbase, earlier this week.
This transaction coincided with a rather challenging week for Ethereum, the world’s second-largest cryptocurrency by market capitalization, dipped by an alarming 10% over the past week.
However, in a silver lining to the stormy cloud, ETH prices showed a semblance of recovery, standing at $1,700, reflecting a positive trend within the last 24 hours.
Interestingly, this isn’t Buterin’s only significant move recently.
Just a day prior, on-chain data from lookonchain revealed that the Ethereum prodigy repaid a hefty sum of 250,000 RAI, while also withdrawing an amount approximating $1.6 million in ETH. For those less versed in the crypto lexicon, RAI is an ETH-backed stablecoin, unique in its non-pegged nature.
