Bitget App
Trade smarter
Buy cryptoMarketsTradeFuturesCopyBotsEarn
Vitalik Buterin Transfers Millions in Ethereum as Market Faces Pressure

Vitalik Buterin Transfers Millions in Ethereum as Market Faces Pressure

Cryptodnes2024/08/30 20:39
By:Cryptodnes

Ethereum co-founder Vitalik Buterin recently transferred 800 ETH (worth approximately $2 million), which has sparked curiosity in the crypto community.

The move follows a similar pattern, as Buterin had previously transferred 3,000 ETH (about $8 million) into the same wallet. The reason for these transactions remains unclear, but they come at a time when Ethereum is experiencing significant selling pressure and liquidity outflows from ETH ETFs.

Over the past seven days, the price of Ethereum has fallen about 5%, with bearish sentiment settling into the market. The total value locked into the Ethereum network has also declined by over 20% in the last month, reflecting broader market concerns.

READ MORE:
Elon Musk Wins Dogecoin Market Manipulation Lawsuit

According to data from PeckShieldAlert, Buterin’s most recent transaction involved transferring 800 ETH to a portfolio that was active in the DeFi space. That wallet has provided 1,900 ETH to AAVE and exchanged 190 ETH for $477,300, indicating strategic moves in the decentralized financial ecosystem.

This is not the first time Buterin has made such transfers. On Aug. 19, he transferred 400 ETH (just over $1 million) to a new wallet, and also sent 1 ETH to Railgun, a crypto mixer to improve privacy.

Following the recent transfer, Buterin’s main Etherium address now holds 52.5 ETH (approximately $132,000), with the additional funds totaling over $638,000, spread across more than 400 different tokens.

0

Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.

PoolX: Locked for new tokens.
APR up to 10%. Always on, always get airdrop.
Lock now!