Ethereum co-founder Vitalik Buterin has made significant movements in the crypto market, depositing a large sum of Ethereum (ETH) and USD Coin (USDC) into Aave. These transactions are part of a broader trend of ETH sales by Buterin over the past two weeks. In the latest development, Buterin’s wallet deposited 2,851 ETH, worth approximately $6.73 million, into the Aave protocol. Alongside this, he also deposited 2.27 million USDC, which was obtained from selling 950 ETH over the past two weeks.
A wallet related to vitalik.eth(@VitalikButerin) sold 190 $ETH for 441,971 $USDC again 20 minutes ago!The wallet received 3,800 $ETH($9.8M) from #Vitalik and has sold 950 $ETH($2.28M) at an average price of $2,396 since Aug 30.https://t.co/K6i8Wr8vZ3 pic.twitter.com/GgHvs3gxft
— Lookonchain (@lookonchain) September 11, 2024
The deposit into Aave occurred just three hours ago, further indicating Buterin’s continued strategic maneuvers within the decentralized finance (DeFi) space. Buterin’s wallet activity over the past few weeks has raised interest among market observers. Since August 30, he has sold a total of 950 ETH, valued at $2.28 million, at an average price of $2,396 per ETH. A previous transaction saw Buterin’s wallet sell 190 ETH for 441,971 USDC, continuing a trend of ETH-to-USDC conversions.
Broader Context of Vitalik’s Transactions
According to Lookonchain, these transactions come after Buterin’s wallet received 3,800 ETH, worth $9.8 million. The continued movement of ETH and stablecoins highlights Buterin’s strategic involvement in both selling and reinvesting his assets into DeFi protocols like Aave.
Buterin’s decision to deposit significant amounts into Aave reflects the growing influence of DeFi, as major players continue to utilize decentralized platforms for liquidity and asset management.
Vitalik Buterin’s recent ETH sales and subsequent deposits into Aave underscore his active role in managing Ethereum and stablecoin assets. As the market closely follows these moves, they provide further insight into Buterin’s strategies within the evolving DeFi landscape.
