Vitalik Buterin Continues to Transfer 2,000 ETH to an Intermediary Wallet for Bitstamp Exchange

In the ever-evolving world of cryptocurrency, one name stands out prominently – Vitalik Buterin, the visionary co-founder of Ethereum. Known for his groundbreaking contributions to the blockchain industry, Vitalik has once again captured the attention of the crypto community with a series of enigmatic transactions involving substantial amounts of Ethereum (ETH).

On September 11th, 2023, an address associated with Vitalik, bearing the identifier “0xD0…8fd7,” transferred a staggering 2,000 ETH, equivalent to approximately $3.12 million USD, to another wallet with the address “0x55…31B1.” This move came just ten days after Vitalik had previously sent 999 ETH to the same address and 1,700 ETH approximately a month before. The wallet in question, “0x5567,” has become the focal point of these transactions.

What makes this even more intriguing is that the wallet tied to Vitalik Buterin has been consistently depositing ETH into the popular cryptocurrency exchange, Bitstamp, through this very address. According to Lookonchain, in the past month alone, “0x5567” has transferred a total of 2,700 ETH, which translates to a staggering $4.77 million USD, onto the Bitstamp exchange. Over the course of the last year, wallets associated with Vitalik have sent $7.49 million USD to Bitstamp and $3.3 million USD to Paxos, all through the address “0x55.”

The motives behind this unusual accumulation of assets on centralized exchanges (CEXs) by Ethereum’s co-founder remain shrouded in mystery. It is worth noting that in late August, Vitalik’s “vitalik.eth” labeled wallet transferred 600 ETH, worth around $1 million USD, to Coinbase. Shortly thereafter, he surprised the crypto community by selling 500 MKR and pocketing 353 ETH. This marked the first time in two years that he had moved MKR out of his wallet.

Speculation abounds regarding Vitalik Buterin’s intentions with these enigmatic transactions. Some analysts suggest that he might be preparing to offload a substantial portion of his holdings, potentially exerting downward pressure on the cryptocurrency’s price. Whatever the motive, these actions are seen as a reflection of Vitalik’s views on the upcoming market trends and are closely monitored by the crypto community.

Read more:

Join us on Telegram

Follow us on Twitter

Follow us on Facebook

Follow us on Reddit

You might also like