Vitalik Buterin, the renowned programmer and co-founder of Ethereum, the second-largest blockchain platform, has conducted another transfer of Ethereum (ETH). According to a recent post by the @lookonchain Twitter account, which monitors “Smart Money” wallets and significant addresses engaged in cryptocurrency movements, it appears that the destination for this transaction is the Bitstamp exchange.
Buterin’s recent transactions have been predominantly directed toward exchanges, with Bitstamp and Coinbase being recurring destinations. In this latest move, he transferred 1,000 ETH, equivalent to approximately $1.64 million, to the Bitstamp exchange. Over the past two months, Buterin has moved a total of 4,400 ETH, which translates to more than $7 million in fiat currency, to Bitstamp, as per the same source.
Approximately two weeks ago, Buterin shifted a substantial amount of ETH to Coinbase, valued at around $1 million at the time. A month prior to that, he sent 600 ETH to the same destination, presumably with the intention to sell those coins.
Notably, these transactions by Buterin have not had any significant impact on the price of Ethereum, despite speculations surrounding their purpose.
In a separate development, on-chain data aggregator Santiment reported that unidentified whales withdrew a substantial amount of ETH, equivalent to a significant sum in fiat currency, from centralized exchanges. This marked the most substantial withdrawal of Ethereum from centralized exchanges since September 21. Consequently, the total supply of Ethereum held on exchanges has reached its lowest level in over 5.5 years, while the non-exchange Ethereum supply has reached an all-time high of 115.88 million ETH, as per Santiment data.
Following a recent decline that caused Ethereum to drop by 1.66%, the cryptocurrency has managed to recover from its losses and is currently trading at approximately $1,639.