Vitalik Buterin Moves $15M in USDC Prior To BTC Rally – Here’s Where Crypto Went

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.

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Temitope Olatunji
Temitope Olatunji

Temitope is a seasoned writer with over four years of experience. He specializes in Web3 and FinTech topics and enjoys creating content in these areas. He holds both a bachelor's and master's degree in Linguistics. When not writing, he trades forex and plays video games.