Ethereum co-founder Vitalik Buterin recently transferred 500 ETH coins, valued at roughly $1.1 million, to a oinbase">Coinbase custody wallet, according to a tweet from blockchain analytics firm Lookonchain. This sizable transaction sparked discussion within the crypto community about Buterin’s intentions.
In response, Buterin took to the Warpcast platform to clarify that his transfers of ETH to exchanges tend to be donations rather than personal sales. He explained the recipients of these donated assets sell the coins to fund the operations of their organizations and projects. Buterin also reaffirmed he has not personally sold ETH for profit since 2018, using his holdings predominantly for philanthropy instead.
Meanwhile, Ethereum’s current market price stands around $2,156, down slightly by 0.4% but still boasting a substantial market capitalization of approximately $259 billion. The 24-hour trading volume of ETH is about $15.34 billion, with the asset’s price ranging over the past day from $2,151 to $2,251.
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