Vitalik Buterin, co-founder of Ethereum, recently sent 100 ETH to Coinbase, according to the on-chain analytics platform Spot on Chain. Buterin continues sending Ethereum to Coinbase as this is not the first transfer so far this year.
In addition to Coinbase, he has also been transferring ETH to Bitstamp. At the end of September, he transferred a sizable amount of ETH to Coinbase. His regular transfers of ETH has raised questions among the crypto community.
Buterin has been transferring ETH in increments, most recently moving 100 ETH to Coinbase after selling 400 ETH in September. The previously stated source claims that Vitalik sold 100 ETH for $181,000, or $1,810 per coin.
In August this year, Buterin deposited around 600 ETH (worth nearly $1 million) to Coinbase. He sent 1,000 ether to Bitstamp on October 7 and sold it for almost $1.64 million.
According to information provided by lookonchain, Buterin’s wallet sent a total of 3,700 ETH to crypto exchanges since September 17. The value of this quantity of ETH is about $6.12 million at an average price of $1653.
The price of Ethereum, the second biggest cryptocurrency, has not changed much since Buterin’s ETH transaction to Coinbase today and the anticipated sale that followed.
As of this writing, CoinMarketCap shows that one ether can be purchased for $1808, an increase of 0.59% in the previous 24 hours. However, volume has dropped by 13.20%. After running into significant resistance near the $1848 mark, the price has been consolidating in recent days.
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