Vitalik Buterin, the co-founder of Ethereum, has transferred a total of 3,000 ETH (approximately $4.9 million) to a labeled address called Vb 2. This recent transaction increases the total value of ETH in that wallet to around 3,018 ETH, valued at $5 million. The reasons behind the transfer and the identity of the recipient remain undisclosed.
However, Buterin has a history of periodically selling portions of his ETH holdings and disposing of tokens received in unplanned altcoin airdrops. It is possible that Buterin is taking measures to diversify and secure his funds by redistributing them among different wallets to mitigate the risk of hacking or theft. Notably, this transfer comes after Buterin recently moved 600 ETH (worth around $1 million) to the Coinbase exchange platform.
In total, Buterin has transferred approximately $6 million worth of ETH within a month. As of now, Buterin’s known Ethereum address holds roughly 73 ETH, valued at approximately $119,865. At the time of writing, ETH was trading at $1,651.29, showing a nominal increase of 0.11% in the last 24 hours.