The post Vitalik Buterin’s $1 Million ETH Transfer to Coinbase Raises Questions! appeared first on Coinpedia Fintech News
Vitalik Buterin, Ethereum Co-Founder, transferred 600 ETH (worth $1 million) to the cryptocurrency exchange Coinbase. This transaction comes as ETH, the second-largest cryptocurrency by market capitalization, grapples with a 10% decline over the past week.
#PeckShieldAlert vitalik.eth has transferred 600 $ETH (~$1M) to #Coinbase pic.twitter.com/XVTwLqPENM
— PeckShieldAlert (@PeckShieldAlert) August 21, 2023
Buterin’s Recent Activities
Interestingly, just a day before the deposit, Buterin repaid 250,000 RAI and withdrew $1.6 million worth of ether. RAI, a non-pegged stablecoin backed by ETH, has its own market implications, adding another layer to this enigmatic story.
The Ethereum dip is not an isolated event. A broader market downturn has impacted traders, resulting in $1 billion in liquidations. A host of factors including concerns over foreign currencie
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