In a surprising turn of events, Ethereum founder Vitalik Buterin has made significant moves on the crypto market, depositing millions of USDC into major exchanges, sparking speculation about his strategic intentions.
Lookonchain reports that Buterin's address, vitalik.eth, received a staggering 14.93 million USDC from Kanro merely four days ago, promptly depositing it into Gemini just before the first surge of Bitcoin.
Buterin's actions intensified when he deposited an additional 500,000 USDC into Coinbase merely two days ago, adding to the intrigue surrounding his motives. This comes after months of speculation, as Buterin previously deposited his ETH holdings on various exchanges, a move interpreted as a bearish signal by the crypto community.
The recent actions, however, paint a different picture. It appears that the Ethereum founder has shifted gears, opting to stockpile stablecoins instead of tokens, leading to speculations about his newfound bullish sentiment.
This twist in Buterin's investment strategy seems particularly astute, as it coincided with a momentous surge in the crypto market. Bitcoin, for instance, shot up by over 13%, while Ethereum witnessed a 5% increase.
Nonetheless, the veil of secrecy surrounding Buterin's intentions remains intact, as tracking further fund movements on his exchange accounts remains impossible. Until the enigmatic Ethereum founder unveils his next move, the crypto community is left to ponder: what is his endgame?
Alex Dovbnya
Denys Serhiichuk
Tomiwabold Olajide
