Disclaimer: Information found on CryptoreNews is those of writers quoted. It does not represent the opinions of CryptoreNews on whether to sell, buy or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk.
CryptoreNews covers fintech, blockchain and Bitcoin bringing you the latest crypto news and analyses on the future of money.
Blockchain analysts have identified the transfer of $1 million worth of Ether (ETH) from a wallet managed by Ethereum co-founder Vitalik Buterin, as the cryptocurrency markets continue to experience downturns following significant losses over the weekend.
#PeckShieldAlert vitalik.eth has transferred 600 $ETH (~$1M) to #Coinbase pic.twitter.com/XVTwLqPENM
— PeckShieldAlert (@PeckShieldAlert) August 21, 2023
The publicly recognized Ethereum wallet address vitalik.eth executed a transfer of 600 ETH on August 21, while still retaining over 3,900 ETH valued at approximately $6.5 million according to Etherscan data.
Analysis from Lookonchain also indicated that vitalik.eth repaid 251,000 Rai Reflex Index (RAI) tokens on Maker and withdrew 1,000 ETH, valued at $1.67 million, just hours prior to the ETH transfer to Coinbase.
vitalik.eth repaid 251K $RAI on #Maker and withdrew 1,000 $ETH($1.67M) yesterday.
Then deposited 600 $ETH($1M) to #Coinbase 5 hrs ago.https://t.co/pw8ekIYSs1 pic.twitter.com/rkJo42OSlq— Lookonchain (@lookonchain) August 21, 2023
Related Posts
Several leading blockchain data aggregators and media outlets provided commentary on the transfer of 600 ETH to the U.S.-based cryptocurrency exchange Coinbase. The transaction generated considerable discussion on social media shortly after it occurred, with much speculation surrounding the details of the transfer.
JUST IN: #Ethereum founder Vitalik Buterin transfers 600 $ETH ($1,000,000) to Coinbase.
— Watcher.Guru (@WatcherGuru) August 21, 2023
Buterin’s transaction takes place amid a broader fragility in cryptocurrency markets following a notable correction over the weekend, with Bitcoin (BTC) and ETH experiencing declines of 11% and 8%, respectively.
Related: Vitalik dumps $700K worth of shitcoins that he never asked for
As previously reported by Cointelegraph, Buterin has acknowledged selling portions of his ETH holdings on various occasions over the last five years and has also publicly discarded tokens received through unsolicited altcoin airdrops.
Collect this article as an NFT to preserve this moment in history and show your support for independent journalism in the crypto space.
Magazine: Deposit risk: What do crypto exchanges really do with your money?
