Ethereum Co-Founder Vitalik Buterin Sells ETH Holdings, and This May Be Why

Ethereum founder Vitalik Buterin recently transferred 200 ETH to the Kraken cryptocurrency exchange, according to blockchain security firm PeckShieldAlert.

Investors often move their cryptocurrencies to exchanges when looking to sell. This often incurs transaction costs, which could suggest intentions behind such moves.

#PeckShieldAlert vitalik.eth transferred $200 of ETH to Kraken in the last 1 hour

— PeckShieldAlert (@PeckShieldAlert) March 13, 2023

That said, ethereum’s creators may need the funds for a specific purpose, such as funding a new project or paying for expenses, although the exact reason for the transaction remains unknown.

At the time of writing, ETH is up 13% in the past 24 hours to $1,656.

According to PeckShieldAlert, Reflexer received 500 ether from Vitalik Buterin’s designated address over the weekend. Later, he minted 150,000 Rai Reflective Index (RAI).

The address then exchanged 17,500 RAI for 50,000 DAI and then 132,500 RAI for 378,500 USDC.

Over the past week, Buterin sold some of his altcoin holdings, later declaring that the tokens had “no cultural or moral value.”

Buterin sold 9.9 billion CULT tokens, CultDAO’s native token, for 58 ETH. In addition, he sold his shares in BITE and MOPS. The total sale amounted to 220 ETH.

0X simplified Chinese version:Ethereum Co-Founder Vitalik Buterin Sells ETH Holdings, and This May Be Why

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