Ethereum Co-Founder Vitalik Buterin Makes Another ETH Sale: Details

Legendary programmer Vitalik Buterin, who co-founded the second biggest blockchain platform Ethereum, has made yet another transfer of ETH. According to a recent X post by the @lookonchain account which tracks “Smart Money” wallets and other large addresses moving their crypto, the destination of this transaction is likely the Bitstamp exchange.

Vitalik keeps moving ETH to Bitstamp and Coinbase

Vitalik has been moving ETH to exchanges from his address quite often recently with speculations rising every time as to the purpose of these transfers. This time, he moved 1,000 ETH (worth approximately $1.64 million) to the exchange. Overall, per the same source, within the last two months, the co-founder and frontman of Ethereum has sent 4,400 ETH (more than $7 million in fiat) to Bitstamp.

vitalik.eth(@VitalikButerin) related address transferred 1K $ETH ($1.64M) out again, which may be deposited into #Bitstamp.

This address has deposited a total of 4.4K $ETH ($7.23M) to #Bitstamp in the past 2 months.https://t.co/LRrcqoxUhf pic.twitter.com/oO0rEAD6pd

— Lookonchain (@lookonchain) October 7, 2023

As reported by U.Today, around two weeks ago, per the same blockchain sleuth Lookonchain, Buterin shifted approximately 400 ETH to the leading US exchange Coinbase – back then it was worth around $1 million. A month before that, according to the aforementioned source, Vitalik sent 600 ETH to the same destination with an intention to sell those coins.

Each time he moved Ethereum to exchanges, that did not have any particular effect on the price of the asset.

Massive 110,000 ETH withdrawn from exchanges

As reported by on-chain data aggregator Santiment two days ago, unknown whales transferred a whopping 110,000 ETH worth approximately $181 million in fiat from centralized exchanges.

That was the biggest withdrawal of Ethereum from CEXes since September 21. The total supply of Ethereum held by exchanges now stands at the lowest level in more than 5.5 years, while the non-exchange ETH supply has reached an all-time high of 115.88 million ETH, per Santiment data.

After the big red candle on Thursday which pushed ETH down 1.66%, by now the second largest crypto has managed to recover this loss, rising again to the $1,639 price mark. This is where it is changing hands at the time of this writing.

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