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Ethereum Founder Vitalik Buterin Makes Mystery Move With Large ETH Transfer

Sun, 09/03/2023 - 10:23
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Alex Dovbnya
According to blockchain monitoring platform Spot On Chain, Buterin transferred 999 Ether ($1.63 million) between recognized Ethereum addresses and liquidated 500 Maker (MKR) tokens valued at around $580,000
Ethereum Founder Vitalik Buterin Makes Mystery Move With Large ETH Transfer
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Ethereum co-founder Vitalik Buterin has made some intriguing financial moves, according to blockchain monitoring platform Spot On Chain.

The famous Canadian programmer transferred 999 Ether ($1.63 million) between well-known Ethereum addresses 20 hours ago.

This transaction comes after a series of deposits and sales that have taken place over the past eight days, during which Buterin deposited 1,602 Ether ($2.68 million) to cryptocurrency exchange Bitstamp and converted 100 Ether into 173,000 USDC, a stablecoin pegged to the U.S. dollar.

Buterin's financial activity extends beyond Ethereum's native cryptocurrency. The data shows that he also liquidated 500 Maker (MKR) tokens, valued at around $580,000, for 353.4 Ether.

This marks the first time Buterin has sold Maker tokens in two years. After selling the MKR tokens, Buterin transferred all 350 Ether to another address. This string of transactions has led some to speculate on what Buterin might be planning.

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The transactions come at a time when Ethereum is experiencing moderate price stability, trading at around $1,635 per Ether at the time of writing.

Some community members view Buterin's moves as a regular activity given the size of his holdings. Still, others are keeping a cautious eye, pondering if this could be an indicator of future market moves.

Without specific information, it is difficult to determine the intention behind these moves. Whether these transactions are part of a larger investment strategy, a diversification effort, or simply routine financial management remains to be seen.

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About the author

Alex Dovbnya (aka AlexMorris) is a cryptocurrency expert, trader and journalist with extensive experience of covering everything related to the burgeoning industry — from price analysis to Blockchain disruption. Alex authored more than 1,000 stories for U.Today, CryptoComes and other fintech media outlets. He’s particularly interested in regulatory trends around the globe that are shaping the future of digital assets, can be contacted at