Vitalik Buterin Wallet Offloads Another 190 ETH for USDC

• Vitalik Buterin’s wallet sold 190 ETH for $442K USDC, fueling speculation.
• Buterin’s address moved 950 ETH at an average price of $2,396.

Ethereum co-founder Vitalik Buterin has recently been at the center of speculation regarding his cryptocurrency holdings and transactions, particularly amidst concerns over large-scale ETH sell-offs by major holders, or “whales.”

Buterin addressed these concerns in a recent tweet, clarifying that he has not sold and retained the proceeds since 2018. Instead, he stated that all sales have been directed towards supporting various valuable projects within the Ethereum ecosystem or broader charitable causes, including biomedical research and development.

Despite Buterin’s reassurances, recent transactions have sparked renewed interest. A wallet associated with Buterin’s vitalik.eth address recently sold 190 ETH for 441,971 USDC, hours ago.

This wallet, which received 3,800 ETH (approximately $9.8 million) from Buterin, has since sold 950 ETH (valued at around $2.28 million) at an average price of $2,396 since August 30.

Moreover, Buterin recently moved 800 ETH, worth over $2.1 million, to a multi-signature wallet, fueling rumours of a potential large-scale selloff. On September 4, he also unlocked and withdrew 1.268 million Starknet (STRK) tokens from Starknet’s Locked Token Grant contract, valued at $470,000. This increase in STRK holdings has made it Buterin’s second-largest token holding after Ethereum, with a total value of about $781,000.

A Look At Vitalik Moves

In August, Buterin transferred approximately $10 million worth of ETH to wallets linked with crypto exchanges. Data from Arkham Intelligence reveals that Buterin’s address has seen outflows of around 422,000 ETH (worth $1.04 billion as of September 1, 2024) since 2015, with over 840,000 ETH moving out in the last two years.

These significant transfers coincide with a similar move by the Ethereum Foundation, which recently transferred 84,000 ETH (over $207 million) to crypto exchanges for developmental purposes. Such large transactions can create short-term market reactions, as seen with the Ethereum Foundation’s transfer of 20,000 ETH in November 2021.

Currently, ETH is trading at $2,330.94, showing a modest 0.74% increase, with trading volume down 12% in the past 24 hours.

Highlighted News Of The Day

Indodax Exchange Faces $15 Million Loss After Major Hack