Blockchain Sleuths Spot the Transaction
Blockchain analysts have been buzzing over a substantial transaction traced back to a wallet affiliated with Ethereum co-founder Vitalik Buterin. A whopping $14.9 million in USD Coin (USDC) was moved to the Gemini cryptocurrency exchange, drawing significant attention and speculation within the crypto community.
The Transaction in Detail
According to a disclosure by blockchain analytics firm PeckShield, the transaction took place on October 16, originating from “vitalik.eth,” a wallet associated with Buterin. The Ethereum co-founder received this substantial sum of 14.93 million USDC initially from Kanro, a charity with close ties to Buterin, on October 14.
Broader Financial Movements
Apart from this significant transfer, other financial activities have been noted from Buterin’s wallets. Data from Lookonchain revealed that there was also a nearly $500,000 transfer made to Coinbase merely three days earlier. These series of transactions echo a broader trend observed in the past months, showcasing a flurry of ETH deposits to centralized exchanges from Buterin’s wallets.
Impact on Ethereum’s Price
Interestingly, the market reaction to this substantial transaction has been somewhat muted. Ethereum’s native cryptocurrency, Ether (ETH), maintained relative stability, experiencing a minor drop of 0.68% in the past four hours following the news, as per data gleaned from CoinGecko.
Cumulative Transactions: A Closer Look
Taking a closer look at the cumulative transactions from Buterin’s addresses, it is evident that there has been a marked increase in ETH deposits to exchanges. In September alone, transactions amounted to over $3.9 million. Historical data also reveals transactions such as a 400 ETH transfer to Coinbase on September 24 and a considerable 600 ETH transaction previously reported on August 21.
