Ethereum Co-Founder Vitalik Buterin Continues to Transfer ETH: Details
ETH Transfers to Bitstamp and Coinbase
Legendary programmer and co-founder of Ethereum, Vitalik Buterin, has once again made a transfer of ETH. According to recent reports, he moved 1,000 ETH (worth approximately $1.64 million) to the Bitstamp exchange. This is not the first time Buterin has been transferring ETH to exchanges. In fact, within the last two months, he has sent 4,400 ETH (over $7 million) to Bitstamp. Previously, he also transferred around $1 million worth of ETH to Coinbase. Despite these transfers, the price of ETH remains unaffected.
Massive ETH Withdrawal from Exchanges
Recent data from on-chain aggregator Santiment reveals that a significant amount of ETH has been withdrawn from centralized exchanges. Unknown whales withdrew a massive 110,000 ETH, marking the largest withdrawal since September 21. This has resulted in the lowest level of ETH held by exchanges in over 5.5 years. On the other hand, the non-exchange ETH supply has reached an all-time high of 115.88 million ETH. These developments have not only impacted the supply dynamics but have also influenced the price of ETH.
Price Recovery and Current Status
Following a decline in price, ETH has managed to recover and is currently trading at around $1,639. The second-largest cryptocurrency continues to demonstrate resilience amidst market volatility. Investors and enthusiasts are closely monitoring the movements of Buterin and the overall ETH market to gain insights into the future trajectory of this popular digital asset.
This article was originally published on U.Today
