- Vitalik Buterin moves 400 ETH, sparking speculation about Railgun involvement.
- In 2024, Buterin transferred 662 ETH to Railgun, showing strong privacy support.
- Buterin donates $532K in ETH to Animal Welfare Fund, highlighting his charity work.
Ethereum co-founder Vitalik Buterin transferred 400 ETH (around $1.05 million) to an address possibly linked to Railgun, a privacy protocol. This move adds to speculation that Buterin is continuing his support for privacy-enhancing technologies in the crypto sector.
Buterin has been a frequent Railgun user over the past 10 months, sending a total of 662 ETH (around $1.91 million) their way in 2024 alone. This latest transaction further solidifies his support for privacy tools in the crypto world, coming hot on the heels of another $500K ETH transfer to an unknown address earlier last week.
This transfer follows a pattern observed earlier in August, where Vitalik Buterin had made headlines with a substantial transfer to a multi-signature wallet. This was part of a flurry of activity involving large amounts of ETH being moved around Ethereum’s network.
On August 5th, Buterin’s “vitalik.eth” wallet received a hefty 3,000 ETH, as reported by Lookonchain. This highlights Buterin’s continued engagement with the Ethereum network and his preference for multi-signature wallets to keep his funds safe.
Buterin’s not just moving money around – he’s also giving back. He recently donated $532,000 worth of ETH to the Effective Altruism Fund’s Animal Welfare Fund.
This donation came from selling various animal-themed meme coins that had been sent to him throughout the year. These coins, popular within the Ethereum community, had piled up in Buterin’s wallet.
As of the press time, Ethereum (ETH) was priced at $2,635.93, with a trading volume of $9.94 billion over the last day. Ethereum has recorded an increase of 1.25% over the previous 24 hours, remaining the second-largest cryptocurrency by market cap, which stands at approximately $317 billion. The circulating supply of ETH is 120,286,512 coins, while the maximum supply is currently not specified.
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Source: https://coinedition.com/buterins-eth-moves-railgun-donations-and-market-impact/