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Blockchain analysts have recently observed a significant transaction involving Ethereum's co-founder, Vitalik Buterin. Records indicate that Buterin moved an impressive $14.9 million in USD Coin (USDC) to the well-known cryptocurrency platform, Gemini.
The transaction occurred on October 16, as confirmed by an update from blockchain research firm PeckShield on October 17. The same transaction was also verified by Cointelegraph after reviewing the details on Etherscan.
Upon delving further into the transaction's origins, it was revealed that the substantial sum of 14.93 million USDC was initially sent to Buterin's "vitalik.eth" wallet by Kanro, a charity organization known to have ties with Buterin. This transfer to Buterin took place on October 14.
In addition to this noteworthy transfer, another financial movement captured the attention of crypto enthusiasts. Lookonchain, a cryptocurrency data service, disclosed that Buterin made a separate transaction, sending nearly $500,000 to another prominent cryptocurrency exchange, Coinbase, just three days prior to the Gemini transfer.
Interestingly, the value of Ethereum's primary currency, Ether (ETH), remained relatively unaffected by this news. Data from CoinGecko indicated only a minor 0.68% drop shortly after the news became public.
Buterin's recent activities are not isolated events. Over the past several months, there has been a noticeable trend of Ether being moved to centralized platforms. In September alone, transfers originating from Buterin's accounts exceeded a substantial $3.9 million.
Delving into specifics, on September 24, Buterin made a transfer of 400 ETH to Coinbase, valued at approximately $600,000 at that time. Another significant transfer was noted on August 21, where 600 ETH, equivalent to $1 million, was moved from the "vitalik.eth" address. This was also confirmed by blockchain tracking tools.
While such large-scale transfers can often spark speculation and curiosity in the crypto community, it is essential to approach such news with a balanced perspective, understanding the broader context and the fluid nature of the cryptocurrency market.
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