A crypto whale associated with Ethereum co-founder Vitalik Buterin made a $4 million deposit to cryptocurrency exchange OKX.
The deposit, totaling 2,013 Ethereum (ETH), was reported by blockchain analytics site Lookonchain. The whale's address, referred to as "0x9e92," has previously been involved in significant transactions with Buterin, creating an undeniable link between the two.
The Lookonchain data shows a series of substantial transactions involving Buterin and the whale, culminating in this recent deposit.
From Dec. 30, 2022, to May 18, the address "0x9e92" received 22,300 ETH ($41.6 million) from Buterin.
This comes amid volatile trading on Ethereum, with its price ranging between $1,865.01 and $1,908.54 over the last 24 hours, according to CoinGecko. As of now, Ethereum holds a market capitalization of $225.3 billion.
In January, Lookonchain revealed a significant transfer from Buterin to the whale. Buterin, operating under the address likely labeled as "0xd04d," transferred 9,300 ETH ($11.16 million) to the whale over 20 days. The whale's current holdings are considerable, with Lookonchain reporting that the "0x9e92" address holds 170,913 ETH, valued approximately at $259 million.
With the rise of blockchain analytics, the transparency of transactions on the Ethereum network has allowed observers to follow the flows of the cryptocurrency and speculate on the motives behind these large-scale transfers.
The motives behind the most recent transfers remain unclear.
U.Today Editorial Team
Dan Burgin
