Blockchain analysts have closely examined a recent transaction involving Ethereum co-founder Vitalik Buterin. In this transaction, Buterin transferred $14.9 million worth of USD Coin (USDC) to the cryptocurrency exchange Gemini.
According to a post dated October 17 from the blockchain analytics firm PeckShield, Buterin’s wallet, “vitalik.eth,” completed this transfer to Gemini on October 16. The initial sum of $14.93 million in USDC was received by Buterin from Kanro, a charity organization associated with him, on October 14.
Additionally, analysis from the crypto data provider Lookonchain revealed that Buterin had transferred nearly $500,000 to Coinbase just three days prior to this transaction. Despite this movement of funds, the price of Ethereum’s native currency, Ether, remained relatively stable, experiencing only a 0.68% decrease in the past four hours, as per price data from CoinGecko.
This recent transfer by Buterin is part of a series of Ethereum deposits to centralized exchanges that have occurred over the past few months, totaling over $3.9 million in September. For instance, on September 24, Buterin transferred 400 ETH, worth $600,000 at the time, to Coinbase. In August, a transaction of 600 ETH (equivalent to $1 million) from the “vitalik.eth” address was reported, which was also monitored by on-chain tracking platforms.
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