Ethereum Co-Founder Vitalik Buterin Transfers $858.7K Worth of $STRK to New Wallet

Vitalik Buterin, the co-founder of Ethereum and a prominent figure in the cryptocurrency space, has moved 2.1 million $STRK (worth $858.7K) to a new wallet. The transfer, which occurred just an hour ago, has sparked discussions within the crypto community. Buterin has been a seed investor in Starknet, and the funds were reportedly received through two separate unlocks.

Vitalik Buterin’s involvement with Starknet, a Layer 2 scaling solution for Ethereum, is well-known. According to Lookonchain, his latest transfer of $STRK tokens reflects his continued engagement with the project. Given his role as a seed investor, these unlocks are likely part of his early-stage commitment to Starknet’s development.

Earlier, another significant transaction was reported involving Buterin’s Ethereum holdings. Buterin recently sent 800 $ETH, valued at approximately $2 million, to a multisig wallet and swapped 190 $ETH for $477,000 in USDC. This follows an earlier transfer on August 9, when he moved 3,000 $ETH to the same wallet.

Declining ETH Holdings

A closer look at Buterin’s ETH holdings reveals a notable decline. Three years ago, Buterin held 325,000 $ETH, but now, his balance stands at around 240,000 $ETH, a 27% reduction. While this has prompted speculation about Buterin’s confidence in Ethereum, he has clarified that these sales are intended to fund projects that align with his values, both within the Ethereum ecosystem and for charitable causes.

Buterin’s movements, both with $STRK and $ETH, have left some questioning their stance on Ethereum. His clarification that the sales are for funding purposes, however, may offer reassurance to those concerned about the long-term outlook of the Ethereum project. The broader community is left debating whether these sales signify a bearish sentiment or if they are simply part of Buterin’s broader support for decentralized initiatives and philanthropy.