Vitalik Suspected Wallet Triggers Speculation Amid $2M Transfer

• Vitalik Buterin-linked wallet transfers 1,300 ETH ($3.35M) to Paxos.
• Repeated Ethereum transactions raise speculation around Buterin’s potential motivations.

Vitalik Buterin, co-founder of Ethereum, has once again drawn attention due to recent transactions associated with a wallet suspected to be his. Buterin had previously stated on social media, “I haven’t sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity.” However, a recent transfer of 649 ETH ($1.72 million) to Paxos, made around 20 hours ago, has ignited fresh speculation.

Wallet “0x556,” associated with @VitalikButerin, deposited the last 649 $ETH ($1.72M) to #Paxos ~20 hours ago.

Notably, on Sep 19, wallet “0x556” received 1,300 $ETH ($3.21M) from wallet “0xd04,” which got funded with 70K $ETH by Vitalik Buterin in 2022.

Over the past 11 days,… pic.twitter.com/tuRYZKGmiV

— Spot On Chain (@spotonchain) September 30, 2024

Notably, on September 19, the wallet “0x556” received 1,300 ETH ($3.21 million) from wallet “0xd04,” which had been funded with 70,000 ETH by Buterin in 2022. Over the past 11 days, all 1,300 ETH was deposited to Paxos at an average price of $2,581 ($3.35 million) amid a recovery in Ethereum’s price.

Adding to the intrigue, 10 days prior, the same Buterin-linked wallet moved 1,300 ETH, valued at $3.17 million, to another wallet. This transaction raised eyebrows as the wallet had earlier received 700 ETH. It is possibly from a wallet linked to Buterin’s relative or friend. ETH saw a 6% spike in value during that period.

These Consistent Transfers

Leading on-chain tracker Lookonchain reported the movement of 1,300 ETH by wallet “0xD04d” to “0x5567.” After the transfer, 74.17 ETH, worth around $181,000, was sent to Paxos. This was not the first time such transactions occurred—so many days ago. The same wallets exchanged 1,000 ETH, which was later deposited to Bitstamp.

These consistent transfers have sparked discussions. Speculations about the motivations behind these moves, particularly given a previous 70,000 ETH ($171.5 million) transfer linked to Buterin.

Meanwhile, in the past 24 hours, Ethereum’s price has dipped by 1.40% while trading volume surged 38%. Investors are watching closely as Ethereum navigates key resistance levels.

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