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The crypto world is buzzing about the recent ETH transfer made by Vitalik Buterin, the co-founder of the largest altcoin Ethereum (ETH). According to blockchain detective LookOnChain, Buterin transferred a significant amount of ETH to the US-based cryptocurrency exchange Coinbase.
Vitalik Buterin’s ETH Transfers Remain a Mystery
On-chain data shows that Buterin transferred 400 ETH worth approximately $632,000 to the US-based crypto exchange Coinbase. This transfer has sparked speculations and ignited debates in the crypto community.
The significance of this 400 ETH transfer is further enhanced by the fact that it follows another important ETH transfer Buterin made last month, where he transferred around 600 ETH worth approximately $1 million to Coinbase.
This recent transfer has given rise to various claims in the crypto world. Many crypto enthusiasts speculate about the possible reasons behind such a large transfer, with the main claim being that Buterin is slowly liquidating his ETH holdings in anticipation of a market downturn. Some crypto enthusiasts, however, believe it could be a potential strategic adjustment or a routine transaction.
The mystery surrounding Buterin’s almost routine ETH transfers remains unsolved, and market experts warn that while these transfers may not directly, they could indirectly negatively impact the price of the altcoin king and push its price downward.
The Transfer Has Yet to Have an Impact on ETH’s Price
Despite the speculations and debates surrounding Buterin’s ETH transfers, the price of the largest altcoin has remained relatively stable. According to crypto data and price platform CoinMarketCap, at the time of writing, ETH is priced at $1,570, representing a 1.14% decrease over the past 24 hours.
Although the trading volume of ETH has increased by over 100% to $3.93 billion in the past 24 hours, its market value has decreased by 1.02% to $189.44 billion during the same period.
