Saturday, July 20, 2024

Blockchain statistics reveal that an Ethereum-related wallet linked to co-founder Vitalik Buterin executed a transfer of 400 ETH to Coinbase on September 24. Data from Spotonchain, a real-time blockchain tracking service, indicates that Buterin’s wallet sent a total of 2,421 ETH to major cryptocurrency exchanges over a ten-day period.

The wallet associated with Vitalik Buterin initiated the transfer by conducting a preliminary test transaction of 0.1 ETH to the destination address, followed by the primary transfer of 399.9 ETH to Coinbase. Presently, Buterin’s digital wallet, identified as “0x1Db3,” holds 1,773.44 ETH, with an approximate value of $2.77 million. When factoring in other cryptocurrencies held in the wallet, its total worth reaches around $2.96 million.

In the span of just ten days, Spotonchain reports that Buterin facilitated the movement of a significant 2,421 ETH, equivalent to $3.79 million, to centralized exchange (CEX) platforms. Notably, a substantial portion of these funds was directed towards Kraken, although Buterin also transferred ether to Bitstamp and Paxos. It’s interesting to note that these substantial transfers often commenced with an initial 0.1 ETH test transaction.

Historical data from Arkham Intelligence reveals that since 2016, Buterin has interacted with multiple cryptocurrency exchanges, including Kraken, Bittrex, Yunbi, Coinbase, Poloniex, and FTX US. Kraken, in particular, has been his preferred choice, witnessing deposits exceeding $12.3 million since 2016, with a relatively minor withdrawal of $69,820.

Similar to dormant Bitcoin transactions or actions by prominent figures in the cryptocurrency space, the crypto community can only speculate about Buterin’s reasons for directing these tokens to CEX platforms. Spotonchain records the average price of the 2,421 ETH at a consistent $1,628 per ETH. The amount that Buterin transferred to Coinbase on that particular Sunday translates to a USD value of $626,384.

The motives behind such substantial cryptocurrency movements by figures like Buterin remain a topic of intrigue within the crypto community. Share your thoughts and insights on this matter in the comments section below.

Frequently Asked Questions (FAQs) about crypto-transfers

Q: Why did Vitalik Buterin transfer 400 ETH to Coinbase?

A: The specific reason behind Vitalik Buterin’s transfer of 400 ETH to Coinbase remains unknown. Cryptocurrency enthusiasts can only speculate on his motives.

Q: What is the significance of Buterin’s 10-day crypto exchange activity?

A: Vitalik Buterin’s movement of 2,421 ETH to various centralized exchange platforms in just ten days has piqued curiosity within the crypto community, prompting discussions about its implications.

Q: Which exchanges did Buterin use for his crypto transactions?

A: Buterin has engaged with several cryptocurrency exchanges over the years, including Kraken, Bittrex, Yunbi, Coinbase, Poloniex, and FTX US. Kraken, in particular, has been a primary choice for his transactions.

Q: How much cryptocurrency does Buterin currently hold?

A: As of now, Vitalik Buterin’s digital wallet, labeled “0x1Db3,” contains 1,773.44 ETH, valued at approximately $2.77 million. When considering other cryptocurrencies in the wallet, its total value is around $2.96 million.

Q: What is the average price of the 2,421 ETH transferred by Buterin?

A: The average price of the 2,421 ETH, as reported by Spotonchain, stands at a steady $1,628 per ETH. The transfer of 399.9 ETH to Coinbase on a particular Sunday translates to $626,384 in USD value.

Q: Are there any known reasons for large cryptocurrency transfers by prominent figures like Buterin?

A: The motives behind significant cryptocurrency movements by individuals like Vitalik Buterin often remain a subject of speculation and discussion within the crypto community, with no definitive answers.

More about crypto-transfers

  • Spotonchain: Real-time blockchain tracker providing data on cryptocurrency transactions.
  • Arkham Intelligence: Source of historical data regarding Vitalik Buterin’s interactions with cryptocurrency exchanges.
  • Kraken: Cryptocurrency exchange frequently used by Vitalik Buterin for transactions.
  • Coinbase: Major cryptocurrency exchange where Buterin transferred 400 ETH.
  • Ethereum: The blockchain platform co-founded by Vitalik Buterin.
  • Cryptocurrency News: A reliable source for staying updated on cryptocurrency-related news and events.

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