Vitalik Buterin transfers ETH to Coinbase again – why?

• Vitalik Buterin transferred 600 ETH value $1 million to the trade in mid-August as properly.
• Buterin has deposited 3,700 ETH value $6.12 million to Coinbase, Bitstamp, Paxos since 17 September.

Ethereum [ETH] co-founder Vitalik Buterin was once more within the information as he transferred 100 ETH tokens to the Coinbase [COIN] trade.

Supply: Etherscan

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Given ETH’s value on the time of writing, Buterin’s newest ETH switch stood at $180,500. At press time, ETH was buying and selling at $1,805—an increase of almost 18% over a fortnight.

Supply: ETH/USD, TradingView

Since Buterin’s token transfers have at all times generated numerous noise, it was no completely different this time too.

A crypto fanatic on X speculated that Buterin may use these funds to carry RATIO tokens.

hours in the past, Vitalik Buterin deposited 100 $ETH ($181K) to #coinbase at $1810.
Let me breakdown what this implies for you:

1. Coinbase is unquestionably itemizing $RATIO after launch

2. Vitalik Buterin will bag maintain $RATIO with these deposited funds.

Are you continue to sleeping on $RATIO?

NGMI pic.twitter.com/hPza83Dfwx

— CryptoDoc Memecoin (@Cry3ptoDoc) November 1, 2023

This isn’t the primary time the Ethereum co-founder has made a switch to Coinbase. In mid-August, Buterin transferred 600 ETH value $1 million to the trade.

As for Coinbase, it was going through regulatory scrutiny within the US by the hands of the Securities and Trade Fee (SEC). In early June, the regulator sued the trade for allegedly violating securities legal guidelines. On Nasdaq, it was buying and selling at $76.62.

Supply: COIN, Nasdaq

To date, Buterin has deposited 3,700 ETH value $6.12 million to Coinbase, Bitstamp, and Paxos since 17 September.

Supply: Spotonchain

Transfers just for donations?

Whereas we’re but to know the precise purpose behind the newest switch, there’s a chance of Buterin committing to a different selloff. However, there may be once more the opportunity of him making the switch for a single-time sale solely.

Buterin claimed final month that he hasn’t offered any of his ETH holdings for private acquire since 2018.

“It’s nearly at all times me donating to some charity or nonprofit or different venture, and the recipient promoting as a result of, properly, they should cowl bills.”

Learn Ethereum’s [ETH] Worth Prediction 2023-24

In April 2022, Buterin donated $5 million in ETH donations as humanitarian help to Ukraine.

.@VitalikButerin donated nearly $2.5M in $ETH to @_AidForUkraine 2 days in the past, and did not say a phrase! He is additionally donated $2.5M to @Unchainfund.

Thanks to your monumental assist, Vitalik, and thanks for creating @ethereum! The #Ethereum neighborhood is pic.twitter.com/HuvDcTM40e

— Help For Ukraine (@_AidForUkraine) April 6, 2022

Will probably be attention-grabbing to look at if the newest ETH switch has any implications for the crypto market amid a bull run.