According to recent data from Lookonchain, a wallet associated with Ethereum (ETH) co-founder Vitalik Buterin has once again made a large Ethereum transfer. And once again, the transfer looks like a cash injection from the visionary behind the major altcoin.
A wallet identified as “0xD04d” transferred 1,300 ETH, worth approximately $3.17 million, to wallet “0x5567” just an hour ago. After the transfer, the recipient wallet sent 74.17 ETH, worth $181,000, to Paxos.
The move is reminiscent of a previous transaction, when 1,000 ETH, worth about $2.45 million, was transferred from wallet “0xD04d” to wallet “0x5567” 348 days ago. On that occasion, 1,000 ETH was then deposited to Bitstamp, a major long-standing cryptocurrency exchange.
Wallet “0xD04d” has a history of receiving large amounts of Ethereum. It is reported that 70,000 ETH, worth $171.5 million, was transferred from another wallet, “Vb 3,” which may belong to Vitalik Buterin or people closely related to him, such as relatives or friends, Lookonchain reported.
What does Buterin do?
The latest transfer continues a pattern of selling by wallets associated with Buterin during periods of rising ETH prices. The last time a sale attributed to Buterin occurred, the community erupted in controversy and questioned the Ethereum founder about why he sold tokens.
Furthermore, the Ethereum community is criticizing Buterin for doing so despite the many “bullshit posts” on social media about the altcoin.
So while Buterin was stirring up excitement about Ethereum's future with his right hand, he was deliberately dumping millions of dollars worth of the altcoin with his left.
