Blockchain analysts have detected a $15 million transfer from Ethereum co-founder Vitalik Buterin to cryptocurrency exchange Gemini.
According to blockchain intelligence firm Lookonchain, Buterin’s wallet, “Vitalik.eth” moved $14.93 million worth of USD Coin (USDC) to Gemini on October 16.
The original USDC sum was received by Vitalik from charity Kanro just two days prior, on October 14. In addition, a crypto data provider found Buterin had transferred around $500,000 to Coinbase earlier in the week.
Ether prices held relatively steady following the news, falling just 0.68% over four hours, per Coingecko data. This latest transaction adds to a series of deposits from Buterin to centralized platforms over recent months. His wallets saw total transfers exceeding $3.9 million in September alone.
While the motives behind these large transactions are unclear, they illustrate intensifying on-chain movements from one of Ethereum’s most prominent figures. The markets have so far shrugged off the shifts.
Buterin’s tendencies around transferring holdings as well as his associated charity work continue to be closely monitored. With his influential role in Ethereum’s ecosystem, his on-chain activities often garner significant attention.
The impact of his transfers on prices has been minimal. But market participants remain alert to any signals from prominent industry leaders.
We recommend eToro
Wide range of assets: cryptocurrencies alongside other investment products such as stocks and ETFs.
Copy trading: allows users to copy the trades of leading traders, for free.
User-friendly: eToro’s web-based platform and mobile app are user-friendly and easy to navigate.
