The wallet address belonging to Ethereum co-founder Vitalik Buterin transferred 3000 ETH to a multi-sig wallet- Lookonchain.
The transaction was charged with a gas fee of 0.01 ETH, roughly $230, as per Etherscan(dot)io.
The wallet holds 700,008.50817915 KyberNetwork (KCN) tokens and 36 Wrapped Ethereum (wETH), including 305 other crypto assets.
As per an X post of Lookonchain, Vitalik Buterin, co-founder of Ethereum, has recently moved a chunk of Ethers to a multi-signature safe wallet. Before sending 3,000 ETHs the address tested, sending 0.01 ETH.
vitalik.eth transferred 3,000 $ETH($8.05M) to a multi-sig safe wallet 20 mins ago, possibly as a donation.https://t.co/pw8ekIYSs1https://t.co/DW4Nhmbb6Z pic.twitter.com/7Y4Dx12cDP
— Lookonchain (@lookonchain) August 9, 2024
The on-chain analysis firms asserted that Buterin might donate the transferred amount of ETH. The transaction was charged with a gas fee of 0.01 ETH, roughly $230, as per Etherscan(dot)io.
Following the transfer of 3,000 Ethereum, now the Vitalik.eth wallet holds 200 Ethers; however, the recorded balance as of August 05, 2024, was 243,233 ETH.
The wallet holds 700,008.50817915 KyberNetwork (KCN) tokens, 36 Wrapped Ethereum (wETH), 123,646 OMG Network tokens (OMG), and 1,144 Ethereum Name Service (ENS) tokens, including 300+ other tokens and coins.
Contribution of Vitalik Buterin to Cryptocurrencies
Vitalik Buterin co-founded Ethereum, the second most prominent crypto; he also backed the introduction of smart contracts. The development concept of decentralized applications (DApps) on the Ethereum Network was first introduced by Buterin to help boost ecosystem use cases.
He suggested several scalability solutions for the Ethereum Network, including Proof of Stake, Plasma, and Sharding.
Other Market News
Centralized crypto exchanges have majorly contributed to the surging adoption globally. A recent report of CCdata states that the trading volume of CEXs grew around 19% after a continuous decline for the past four years.
The firm asserts that the primary reason behind the surge in trading volume is the approval of Ether spot ETF and the discussion over crypto in the recent U.S. election campaigns.
Crypto Market Price Update
Since the beginning of August 2024, the broader market has tumbled to its verge; at press time, it was $2.12 Trillion after 5.06% addition intraday.
Bitcoin’s (BTC) price grew 5.09% in the past 24 hours, reaching $60,580. However, in the weekly time frame, its price is trading in red with a decline of 6.28%.
Following the approval of Ether spot ETFs, Ethereum adoption surged significantly, and a significant inflow of funds was observed in its ecosystem.
When writing, ETH is trading at $2,632 with an intraday spike of 7.54%; however, its market grew 7.63%, making it the second biggest crypto in terms of market cap.
Sui (SUI) tops the intraday gainer list, adding 27.56% to its price, reaching $0.8346. Helium (HNT) traded at $6.18, with a surge of 21.44%.
Since the beginning of 2024 till August, the cryptocurrency market has reflected a mixed sentiment while registering surging losses from hacks, scams, and frauds.
