Ethereum’s Vitalik Buterin has ignited several speculations across the broader crypto market today, moving over half a million worth of ETH. On-chain data hovering over the horizon indicates 200 ETH, worth $535K, moved from a Buterin-linked address to an unknown wallet. This transaction has caused a bustle among global market participants, whereas other massive transactions by industry entities followed. So, let’s take a closer look at the latest on-chain developments surrounding Ethereum, the second-largest crypto by market cap.
Vitalik Buterin Moves 200 ETH
According to the insights offered by PeckShieldALert on X today, August 9, the Vitalik Buterin linked address 0xd8… moved 200 ETH, worth $535,930.65, to the unknown address 0xebb. The motive of the transaction remains unclear at the moment.
Meanwhile, a couple of other entities, such as Genesis and the Rain exchange hacker, moved massive amounts of the crypto today. The Rain crypto exchange exploiter moved 721 ETH, worth $1.7 million, to the Tornado Cash coin mixer. Simultaneously, data revealed that Genesis bankruptcy distributions-related address transferred a whopping 10.7K ETH, worth $28 million, to 2 new addresses.
Along with Vitalik Buterin’s transfer, these transactions have garnered additional attention, primarily due to the ETH price gaining unprecedentedly. With only $2.9 million in outflows recorded in the ETH ETFs as of August 8, the price upswing has sparked significant market optimism for the asset
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