Ethereum co-founder Vitalik Buterin’s wallet has once again caught the attention of the crypto community. A series of large ETH transfers to external addresses, highlighted by market watcher Lookonchain, has sparked speculation about the reasons behind these moves.
The latest transaction involved 1,300 ETH, worth approximately $3.17 million, being transferred from the source wallet “0xD04daa” to the anonymous address “0x5567A.” This comes at a time when ETH is experiencing a significant bull run, leading many to question whether the funds are being moved for strategic profit-taking.
Interestingly, after receiving the funds, the receiving wallet deposited a portion of them into Paxos, a well-known crypto brokerage firm. This suggests that the funds may be intended for further investment or trading activities.
This is not the first time these wallets have interacted. Roughly 348 days ago, a similar transfer of 1,000 ETH took place between the same addresses, with the funds subsequently deposited into Bitstamp, another prominent crypto exchange.
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Historical Connection to Vitalik Buterin
The address “0xD04daa” has a historical connection to Ethereum wallets Vb 2 and Vb 3, which are widely associated with Vitalik Buterin. While there have been previous interactions between these wallets, the recent activity has reignited speculation about Buterin’s involvement.
In recent months, wallets associated with Buterin have consistently moved ETH to external destinations, raising concerns about potential sell-offs. Buterin has addressed these concerns, clarifying that some of the sales are for charitable causes he supports rather than for personal profit. He has also noted that certain transactions occur automatically with pre-authorization.
As the crypto market continues to evolve, the activities of key figures like Vitalik Buterin remain closely watched by investors and analysts. The recent transfers from his associated wallet are just one example of the ongoing developments in the Ethereum ecosystem.
Disclaimer: The information in this article is for general purposes only and does not constitute financial advice. The author’s views are personal and may not reflect the views of Chain Affairs. Before making any investment decisions, you should always conduct your own research. Chain Affairs is not responsible for any financial losses.
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