Co-founder of Ethereum and recent $15 million USDC payment to cryptocurrency trading company Gemini was Vitalik Buterin. Although the reason for this transfer has not yet been made public, independent investigations have shown that Vitalik has executed more transfers in recent days.
For instance, just in September, Vitalik transferred about $3.9 million from his wallet. On September 24, 2023, he transferred a substantial sum of $600,000 (in 400 ETH) to Coinbase. Such transactions continue to cause a stir in the cryptosphere while having no apparent purpose.
The impact of these transactions may also be seen in ETH, Ethereum’s native token. Following the discovery of the transfer to the Gemini exchange, the token reportedly decreased by 0.68%. The price of ETH dropped by 0.92% in the previous day to $1,585.29, where it was last seen trading. ETH is also a long way from the resistance level and the widely rumoured price of $1,800.
Such changes are typical when Vitalik sends large quantities of ETH to cryptocurrency companies. As observant blockchain detectives continue to keep tabs on his wallet’s activity, there might be more transfers in the future. These transfers remain unannounced by Vitalik Buterin, leading the community to speculate as to whether they are being made to influence the price of ETH or support crypto projects.
Only after he had received the money from the charity with which he is associated, Kanro, did he make the most recent transfer to Gemini. The transfer to Gemini is the most recent transaction; the one with the charity was made on October 14, 2023. Three days before to moving the money to Gemini, he is also credited with transferring half a million dollars to Coinbase.
The neighbourhood has reacted favourably to these transfers. The majority of them believe that the transfer was made, most likely with good intentions. Others speculate that it might be to manipulate the token’s price, pushing it down so that more people can purchase it. That might be a possibility, but nothing is certain at this time.
The most recent comments made by Vitalik on X, formerly known as Twitter, concerned improvements to the protocol and staking pool. He emphasized that these adjustments could enhance the idea of decentralization while reducing the consensus overhead. His side has not yet commented on this issue.
Additionally, Vitalik just hosted an AMA on X where he announced that he will be taking a sabbatical from Twittering. The Ask-Me-Anything (AMA) sessions are a fantastic method to get in touch with well-known people. Many members of the community might want to know the reasoning behind his big move to Gemini and other cryptocurrency endeavors, assuming he holds an AMA session once more.
