Vitalik Buterin Makes $1M Transfer to Coinbase Amid Market Uncertainty
• Vitalik Buterin, the Ethereum co-founder, recently transferred 600 ETH (worth approximately $1 million) to Coinbase.
• This raised speculation that he was selling his crypto holdings, however this did not have a major effect on ETH’s price.
• Data reveals that Buterin has sent $4.37 million worth of crypto assets to exchanges since the start of 2023.
Vitalik Buterin Makes Exchange Deposit
Recent market uncertainty has brought a significant exchange deposit from Ethereum’s Vitalik Buterin into focus. The transfer adds to the Ethereum co-founder’s rising year-to-date exchange deposits, amounting to $4.37 million worth of crypto assets since the start of 2023. Despite recent speculation, the price of ETH suffered minimal impact upon news breaking of the deposit worth approximately $1 million.
Buterin’s Exchange Activity
On Monday, August 21, on-chain data revealed that Ethereum co-founder Buterin transferred 600 ETH (worth approximately $1 million at the time) to Coinbase. Unsurprisingly, this caused some speculation within the crypto community about whether he intended to sell or not. However, it is worth noting that there has been minimal impact on the asset’s price as ETH is trading for roughly same as before this event occurred at $1,665.4 at the time of writing.
Data Suggests Repayment Of Maker Lending Position
According to Lookonchain, Buterin’s latest Coinbase deposit followed closely behind him repaying 251,000 RAI on Maker and releasing 1,000 ETH (worth roughly $1.67 million). This could suggest that he repaid his Maker position and then deposited some funds into an exchange for future usage or another purpose altogether – we may never know!
Kraken Favoured Exchange
Data shows that Kraken is typically the Ethereum co-founder’s exchange of choice with him having sent $3.12 million worth of crypto assets there since the start of 2023 – significantly more than any other platform in use by him during this period so far..
Regardless if Vitalik Buterin intends to sell his holdings or not remains uncertain but one thing is clear: he is continuing to move large sums between different exchanges according to data available and continues confident in cryptocurrency despite current market conditions being less than ideal for many traders out there right now..