Address Associated With Buterin Transfers More Than 2,400 Ether to Cex Platforms
A real-time blockchain tracker called Spotonchain.ai recently revealed that Vitalik Buterin, the co-founder of Ethereum, sent 399.9 ether to Coinbase. This transaction followed an initial test transaction of 0.1 ETH to the same address. Currently, Buterin’s digital wallet, known as “0x1Db3,” holds 1,773.44 ether, valued at around $2.77 million. When considering other crypto assets in the wallet, its total worth amounts to approximately $2.96 million.
In just ten days, Spotonchain reports that Buterin transferred a significant amount of 2,421 ETH, equivalent to $3.79 million, to centralized exchange (cex) platforms. While a portion of these funds went to Kraken, Buterin also sent ether to Bitstamp and Paxos. Interestingly, these transfers often began with an initial test transaction of 0.1 ether.
Buterin’s History with Exchanges
Historical data from Arkham Intelligence reveals that since 2016, Buterin has interacted with various exchanges such as Kraken, Bittrex, Yunbi, Coinbase, Poloniex, and FTX US. Kraken has been his primary choice, with deposits exceeding $12.3 million since 2016 and minimal withdrawals of $69,820.
The Crypto Community’s Speculations
Similar to dormant bitcoin transactions or actions taken by influential figures in the crypto industry, the reasons behind Buterin’s transfers to cex platforms can only be speculated by the community. Spotonchain notes that the average price of the 2,421 ether is approximately $1,628 per ETH. The recent transfer to Coinbase alone amounts to $626,384 in USD value.
Hot Take: Buterin’s Strategic Moves
Vitalik Buterin’s recent transfers of ether to cex platforms have caught the attention of the crypto community. With significant amounts being sent to Kraken, Bitstamp, and Paxos, speculation arises about Buterin’s intentions and strategies. While the exact reasons remain unknown, it is clear that Buterin continues to engage with various exchanges and make calculated moves in the crypto space. These transfers highlight the ongoing activity and influence of one of the industry’s key figures.
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