Vitalik Buterin Moves $3,170,000 In Ethereum (ETH)

A wallet associated with Ethereum co-founder Vitalik Buterin has recently made large ETH transfers, drawing attention from the crypto community. As reported by market tracker Lookonchain, the wallet “0xD04daa” transferred 1,300 ETH, valued at around $3.17 million, to an external address labeled “0x5567A.”

This significant transfer occurred as the Ethereum price experienced a notable 6.3% increase, reaching $2,450. The timing of the move has sparked speculation within the community regarding potential profit-taking motives. Shortly after receiving the funds, the wallet “0x5567A” transferred 74.17 ETH, valued at approximately $181,000, to Paxos, a well-known crypto brokerage.

Repeat Transactions Between the Same Wallets

Interestingly, this recent transaction is not the first between these two wallets. Almost a year ago, approximately 348 days prior, the “0xD04daa” wallet sent 1,000 ETH, worth $2.45 million, to the same “0x5567A” address. Those funds were later deposited into Bitstamp, a major cryptocurrency exchange.

This interaction is part of a broader history between these wallets. Before the 1,000 ETH transfer, “0xD04daa” had previously sent 2,999 ETH in two separate transactions to “0x5567A.” After almost a year of dormancy, the wallets are once again transacting.

Historical Ties to Vitalik Buterin

The wallet “0xD04daa” has strong historical connections to Ethereum wallets “Vb 2” and “Vb 3,” both widely recognized as being associated with Vitalik Buterin.

In May 2022, “Vb 2” sent 1 ETH to “0xD04daa,” which was promptly returned, suggesting a direct relationship between the two wallets. Since that exchange, no further interactions have been observed between them.

Later that year, in November, “Vb 3” transferred a substantial 70,000 ETH—valued at $171.5 million at the time—to the “0xD04daa” wallet. On this occasion, however, the funds were not returned. According to data from Etherscan, the source was “vitalik.eth,” the official address linked to Vitalik Buterin.

Vitalik Buterin’s Explanation Regarding Transfers

In recent months, there has been increased scrutiny surrounding the movement of assets from wallets connected to Buterin. While the frequency of these transactions has raised concerns about potential sell-offs, Buterin has acknowledged the transfers and offered some clarity.

He explained that a portion of the token sales is intended for charitable donations, rather than personal financial gain. He further noted that some of these transactions are pre-authorized and occur automatically, without his direct involvement.

Despite this clarification, the pattern of sales from wallets associated with Buterin continues to attract attention, particularly when aligned with notable market movements.

Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.

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