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Ethereum’s Vitalik Buterin Just Executed About $5 Million in ETH Transfer. Here’s the Destination

As a recent report has it, the co-founder of Ethereum, Vitalik Buterin, has executed yet another substantial cryptocurrency transfer. This time, Buterin sent a staggering 3,000 ETH, equivalent to approximately $4.9 million, to a Vb 2 labeled address, specifically 0x1Db3439a222C519ab44bb1144fC28167b4Fa6E.

The noteworthy transaction occurred on Aug. 28, as revealed by Etherscan data shared on Twitter by PeckShieldAlert.

Read Also: Ethereum’s Vitalik Buterin: XRP is Listed As Crypto Despite Being Completely Centralized

By sending the sizeable amount to the Vb 2 labeled address, the crypto maven augmented the total value of ETH held within the wallet to approximately 3,018 ETH.

Following this transaction from Buterin’s publicly known Ethereum wallet, Vitalik.eth, Ethereum’s price remained steadfast at $1,640. The digital asset, famous for its market volatility, exhibited resilience despite the multimillion-dollar transfer. The 24-hour trading volume for Ethereum was reported at an impressive $3,489,394,171, according to data sourced from CoinGecko.

The true nature of this transfer shrouds itself in an air of mystery, inviting speculation within the crypto community. The recipient’s identity and the intentions behind such a significant movement of funds continue to remain undisclosed, further fueling curiosity among enthusiasts and experts alike.

Read Also: Ethereum’s Vitalik Buterin Wishes Crypto Projects Victory in SEC Lawsuits, XRP Community Reacts

It is worth noting that Buterin has been no stranger to offloading portions of his ETH holdings over the past five years. Additionally, he has publicly disposed of tokens received through unplanned altcoin airdrops. Such actions have often caught the attention of the cryptocurrency community, arousing intrigue and speculation.

Adding to the recent surge of transfers, Buterin executed a similar transaction a couple of days ago but to a crypto exchange.

Approximately valued at $1 million, the Ethereum co-founder sent 600 ETH to the US-based exchange Coinbase. This rapid succession of significant transfers from Buterin has garnered attention and raised eyebrows among industry observers.

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However, since the transaction was from wallet to wallet unlike the previous one which was sent to Coinbase, there is no reason to worry.

Due to Buterin’s status as one of the key figures in the world of blockchain and cryptocurrency, his actions often reverberate throughout the industry, making each transfer a matter of great interest and speculation.


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Adedoyin Aka
Adedoyin Aka
Adedoyin is a graduate of Law and a Crypto & Blockchain expert who strongly believes that Blockchain is the future. At TimesTabloid, she focuses on crypto and blockchain educational content.
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