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HomeEthereumVitalik Buterin Transfers $11.16 Million Worth of Ethereum (ETH) Between Wallets, What's...

Vitalik Buterin Transfers $11.16 Million Worth of Ethereum (ETH) Between Wallets, What’s Happening?

Armand Sirignan

Vitalik Buterin is actively moving his own funds, but the reasons behind such manipulation remain unclear

The co-founder of the second largest network in the industry has nearly $12 million worth of Cryptocurrency During his purse for the last 20 days.Suspicious activity quickly drew attention cipher community.

According to LookOnChain’s analysis, the whale addresses ending in 0x9e92 that received 9,300 ETH in the last 20 days may be associated with the developers themselves in some way. The address used to send funds ends in “0xd04d” and most likely belongs to Buterin as it only received funds from wallet Vb3.

After receiving the funds, the whale holds a total of 170,913 ethereum Worth about $260 million. In fact, it makes him one of the largest holders of cryptocurrencies on the market. Histories of transactions show that whales are actually tied to specific exchanges or act as OTC desks. I don’t see any activity that makes me think there is.

Historically, both institutional and retail investors often follow the accounts of crypto influencers, projects, and developers, so trades made by Buterin have typically resulted in spikes in Ethereum’s volatility in the market. connected to

Some community members believe Buterin is willing to sell some of his holdings while Ethereum is trading at a significant premium compared to what the market saw about two weeks ago. I even assumed.

Luckily for Ethereum investors, the price performance of the second largest cryptocurrency on the market was driven by a recovery in network activity and a surge in market inflows that inevitably affected the largest cryptocurrency on the market. Thanks to you, we’ve improved a lot since the beginning of the year. ethereum and Bitcoin.

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