The second-largest blockchain network Ethereum was co-founded by legendary programmer Vitalik Buterin, who just completed another ETH transfer. The Bitstamp exchange is probably the destination of this transaction, according to a recent X post by the @lookonchain account, which monitors “Smart Money” wallets and other significant addresses transferring their cryptocurrency.
Vitalik keeps moving ETH to Bitstamp and Coinbase
Recently, Vitalik has transferred ETH often from his address to exchanges, raising questions about the motivation behind each transfer. This time, he sent 1,000 ETH to the exchange, which is equal to $1.64 million. According to the same source, the co-founder and public face of Ethereum has transferred 4,400 ETH (more than $7 million in fiat currency) to Bitstamp over the course of the previous two months.
https://x.com/lookonchain/status/1710541733627605229?s=20
According to the same blockchain investigator Lookonchain, which was cited by U.Today, Buterin transferred almost 400 ETH to the major US exchange Coinbase about two weeks ago; at the time, it was valued about $1 million. The aforementioned source claims that a month earlier, Vitalik transmitted 600 ETH to the same location with the objective of selling those coins.
The price of the item was unaffected by each time he transferred Ethereum to exchanges.
Massive 110,000 ETH withdrawn from exchanges
Unknown whales transferred a staggering 110,000 ETH worth over $181 million in cash from centralised exchanges, according to information published two days ago by on-chain data aggregator Santiment.
Since September 21, that was the largest withdrawal of Ethereum from CEXes. According to Santiment statistics, the total supply of Ethereum owned by exchanges is currently at its lowest point in more than 5.5 years, while the quantity of ETH not held by exchanges has risen to an all-time high of 115.88 million ETH.
The second-largest cryptocurrency, ETH, has now managed to recoup this loss after the massive red candle on Thursday drove the price down by 1.66%, rebounding back to the $1,639 price level. At the time of writing, here is where it is being traded.
