In a recent development, the esteemed and renowned programmer Vitalik Buterin, widely acknowledged for his instrumental role in co-founding Ethereum, the second-largest blockchain platform, has executed an additional transfer of Ethereum (ETH).
Based on a recent post shared by the @lookonchain account, an authoritative source that monitors the movement of substantial cryptocurrency holdings and prominent wallets, it appears that the intended recipient of this particular transaction is highly probable to be the Bitstamp exchange.
Vitalik Continues to Transfer ETH to Bitstamp and Coinbase
Recently, there has been a noticeable frequency in the movement of ETH from Vitalik’s address to various exchanges. This recurring phenomenon has sparked a surge in speculations as individuals ponder the underlying intentions behind these transfers.
In the present instance, the individual in question has transferred a substantial sum of 1,000 ETH, which currently holds an approximate value of $1.64 million, to the designated cryptocurrency exchange.
According to the source above, it has been observed that over the past two months, the esteemed co-founder and prominent figurehead of Ethereum has executed a series of transactions involving the transfer of a substantial amount of 4,400 ETH, which equates to a monetary value exceeding $7 million in fiat currency, to the renowned cryptocurrency exchange platform known as Bitstamp.
vitalik.eth (@VitalikButerin) has recently moved 1K $ETH ($1.64M) from a connected address, possibly intending to deposit it into #Bitstamp.
In the past two months, a sum of 4.4K $ETH ($7.23M) has been deposited to #Bitstamp by this specific address.
— Lookonchain (@lookonchain) October 7, 2023
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Approximately fourteen days prior, according to the diligent investigation conducted by Lookonchain, Mr. Buterin executed a transaction involving about 400 units of Ethereum (ETH) by transferring said digital assets to the esteemed United States-based cryptocurrency exchange known as Coinbase. It is worth noting that during that particular time frame, the quantity above Ethereum held an approximate valuation of one million United States dollars.
Approximately one month before the occurrence above, as per the source above, it has been reported that Vitalik executed a transaction involving the transfer of 600 ETH to the identical recipient with the explicit intention of divesting himself of said digital assets.
With every instance of his transfer of Ethereum to various exchanges, it became evident that such actions failed to yield any discernible impact on the valuation of said asset.
There Was a Massive Withdrawal of 110,000 ETH From Exchanges
According to the on-chain data aggregator Santiment, an event of significance occurred two days prior. It was observed that entities of unidentified origin, colloquially referred to as “whales,” executed a substantial transfer of 110,000 ETH. This digital asset, valued at roughly $181 million in fiat currency, was moved from centralized exchanges.
The recent removal of Ethereum from various centralized exchanges (CEXes) has marked a significant event reminiscent of a similar occurrence observed on September 21. According to data from Santiment, an intriguing development has emerged in the Ethereum ecosystem.
The total amount of Ethereum grasped by exchanges has recently reached its lowest point in over 5.5 years. Simultaneously, the non-exchange supply of ETH has surged to an unprecedented high of 115.88 million. This shift in the distribution of Ethereum holdings signifies a notable trend within the market.
Following a notable decline on Thursday, characterized by the emergence of a substantial red candle, Ethereum (ETH), the second-largest cryptocurrency by market capitalization, experienced a decrease of 1.66%. However, it is worth noting that ETH has since demonstrated resilience by successfully recuperating from this setback, subsequently witnessing a resurgence in value and ascending to the price level of $1,639. In this composition’s present moment, an ownership transition is occurring.
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