Vitalik Buterin Deposited 2.27M $USDC into Aave

The holdings of Vitalik Buterin, co-founder of Ethereum, are on the move again. This time, he has reportedly deposited 2.27 million USDC into Aave. He acquired these tokens by selling 950 ETH in the last 2 weeks. Vitalik has also deposited 2,851 Ether worth approximately $6.73 million into Aave. Last week, he justified the transfer by claiming that he attempted to support ecosystem projects.

According to previous reports, Buterin sold 190 ETH for almost 441,971 USDC. He last interacted with a community member, saying that he has never sold and kept proceeds since 2018, adding that sales have always been a way to support projects he thinks were valuable. Projects outside the Ethereum ecosystem primarily contribute to a broader charity such as Biomedical Research & Development.

This development has little affected the native token, for ETH is up by 1.47% in the last 24 hours and is exchanging hands at $2,347.53 when writing this article. Factors such as the net flow of Spot Ether ETFs and the Federal Reserve’s decision to cut rates significantly influence Ether. It is further safe to assume that the token is following the trail of BTC, which is currently being traded at around $57,958.40, up by 2.54% in the last 24 hours.

He made his deposits during a period that allowed the community to speculate about their potential impact on the token’s and ecosystem’s future. Offloading tokens at a crucial time demonstrates that there is little confidence in the future of the token or ecosystem. The profits that the market sees floating around are the only ones up for grabs. As a result, Vitalik has justified his deposits, and the community may have come to terms with them.

Moving forward, Buterin has committed to changing his discussions around L2 rollups in public communications. He plans to increase his presence in blogs and talks, focusing solely on L2s that have achieved Stage 1+ in decentralization.

A potential timeline for the implementation of his plan is the commencement of the following year or a later date in the same year. The objective is to promote decentralization among L2 roll-ups.

The council will identify Stage 1+ of L2 solutions, reaching a 75% consensus to override the proof system. He has called this a very reasonable moderate milestone. Several projects are already on the way to achieve stage 1 status by the end of 2024, i.e., this year.

Meanwhile, an investor who made $1.47 million on POPCAT spent 1.6 million USDC within 3 hours to buy 2.36 million POPCAT at $0.68 per token. The investor made $1.47 million by selling 6.05 million POPCAT for 3.31 million USDC on September 5, 2024. They had acquired them for 1.84 million between April 21, 2024, and April 26, 2024.