- Buterin’s “Vitalik.eth” sends a notable $14.93M in USD Coin to Gemini, sparking intrigue.
- Recent months have witnessed a surge in Buterin’s ETH deposits to centralized exchanges.
- With Ethereum’s price rising, Buterin’s actions intensify market speculations.
Recent transactions linked to Ethereum co-founder Vitalik Buterin have captured keen attention. According to blockchain analytics firm PeckShield, on Oct. 16, Buterin’s wallet, tagged “Vitalik.eth,” transferred $14.93 million in USD Coin to Gemini. Moreover, this sum originated from Kanro, a charity closely associated with him, only two days earlier.
vitalik.eth received 14.93M $USDC from #Kanro 4 days ago and then deposited it into #Gemini yesterday before the first surge of $BTC.#Vitalik also deposited 500K $USDC into #Coinbase 2 days ago.
— Lookonchain (@lookonchain) October 17, 2023
What did he do with the $USDC?https://t.co/o3u5JjjapUhttps://t.co/Z69WG0xuNP pic.twitter.com/dwTt7tzHp8
Besides this substantial move, data from Lookonchain revealed an additional noteworthy activity. Buterin dispatched nearly 500,000 USDC to Coinbase three days before this Gemini deposit. This only amplifies the intrigue around his recent financial maneuvers.
However, such transfers are a familiar trend. Over the past few months, Buterin’s ETH deposits to centralized exchanges have seen a consistent uptick. In September alone, the total value of Ethereum dispatched from his wallets crossed over $3.9 million. Additionally, it’s vital to highlight a specific transaction on September 24, when Buterin moved 400 ETH to Coinbase, valued at $600,000.
Ethereum’s price today stands at $1,583.63. Consequently, it has experienced a 1.84% growth within the last day. Hence, any financial move by a figure as influential as Buterin is bound to stir discussions and speculations. The reasons behind these transfers remain undisclosed, making them even more intriguing.
Ethereum’s prominence in the cryptocurrency sphere has led to scrutiny of Buterin’s actions. Analysts and enthusiasts are keenly observing his moves to gauge potential implications, whether they signify a shift in market dynamics or are simply part of his management of a substantial portfolio.
While the exact motives behind these substantial transactions are still under wraps, they’ve undeniably put the crypto community on high alert. The coming days offer more clarity. Until then, the crypto world watches, speculates, and waits.
