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The founder of Ethereum transfers $11.16 million worth of Ethereum (ETH) between wallets…what happens?

The founder of Ethereum transfers $11.16 million worth of Ethereum (ETH) between wallets…what happens?

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Answer The founder of Ethereum transfers $11.16 million worth of Ethereum (ETH) between wallets…what happens?

The co-founder of the second largest network in the cryptocurrency industry, Ethereum, has transferred nearly $12 million in cryptocurrency between his wallets in the last 20 days.

This activity immediately caught the attention of the crypto community.

According to a LookOnChain analysis, a whale address ending in 0x9e92 that acquired 9,300 Ethereum in the last 20 days could be somehow linked to the founder of Ethereum himself.

The address used to send the funds ends with “0xd04d” and most likely belongs to Vitalik Buterin, as this wallet only received funds from Vitalik Buterin’s wallet Vb3.

After receiving this money, this whale now owns a total of 170,913 Ethereum worth about $260 million.

Theoretically, the recent transactions make this whale one of the largest cryptocurrency holders in the market.

The transaction history does not show any activity that would make it in fact associated with a particular exchange or function as an OTC bureau.

Historically, transactions by Buterin usually lead to a sharp rise in volatility in the market for Ethereum, as both institutional and individual investors follow the accounts of influencers, projects and developers in the crypto space.

Some members of the community even assumed that Buterin was willing to sell some of his holdings, especially with the price of Ethereum rising and trading at a huge interest compared to the price we saw on the market about two weeks ago.

Read:Costly Mistake… Selling NFT for $17 Instead of 17 Ethereum (Losing $54,000)

Fortunately for Ethereum investors, the price performance of the second largest cryptocurrency in the market has improved dramatically since the beginning of the year.

This is thanks to the recovery of network activity and the sudden rise in market inflows which inevitably affected the largest cryptocurrencies in the market such as Ethereum and Bitcoin.

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