Ethereum’s co-founder, Vitalik Buterin, recently moved 400 ETH, valued at $632,000, to Coinbase. This brings his total Ethereum transfers to various cryptocurrency exchanges in September to an estimated value of $3.94 million.
According to information from the blockchain analytics company, Spot on Chain, this transaction was executed at 01:43 AM (UTC) on Monday. The detailed analysis shows that within the past 10 days, Buterin has deposited an aggregate of 2,421 ETH to multiple centralized exchanges (CEX) using two distinct addresses.
The data provides a detailed breakdown of these transactions. Specifically, the Ethereum figurehead channeled 721 ETH, with a valuation of about $1.159 million, to the Kraken and Coinbase platforms. Furthermore, between September 15 and 19, 321 ETH of this amount was reportedly directed to Kraken.
In addition to his recent transactions, Buterin also shifted 1,700 ETH to both Bitstamp and Paxos within the span of September 17 to 20, as reported by the data firm.
Earlier in the month, he cashed out 500 Maker tokens (MKR), which had an approximate value of $580,000, exchanging them for 353.4 Ether. This sale was noteworthy as it was the first time in two years that Buterin offloaded Maker tokens. The series of substantial transfers from his wallets has stirred up industry speculation regarding his possible intentions or strategies.
Furthermore, on August 21, following a 10% dip in cryptocurrency and a more general market downtrend, Buterin moved Ether equivalent to $1 million to Coinbase.
ETH Price Slump
As per data from Coin Market Cap, Ether has experienced a significant surge in its 24-hour trading volume, marking a 116.57% increase as of the latest update. Yet, despite the increased activity, its price has taken a slight dip, registering a 1.01% decline over the same 24-hour period. At the moment, this major cryptocurrency is priced at $1,576.
Glassnode Alerts presents another intriguing data point regarding Ethereum. The platform reported that the gas usage of Ethereum, essentially the fee users pay for transactions or to utilize smart contracts on the Ethereum blockchain, has seen a drop. It’s reached an 8-month low, standing at 16.515 gwei. Ethereum gas is a vital component for understanding network activity and the cost dynamics of operating on the Ethereum platform.
