Ethereum Co-founder Vitalik Buterin Could Dump Over $10 Million in ETH – Here's Why

Ethereum co-founder Vitalik Buterin has transferred 800 ETH worth around $2.01 million to a multi-signature wallet today.

Ethereum co-founder Vitalik Buterin has moved 800 ETH, currently valued at around $2.01 million, to a multi-signature wallet, according to on-chain analytics firm Lookonchain.

After the transfer, 190 of the 800 Ethereum tokens were swapped for 477,000 USDC, a stablecoin pegged to the U.S. dollar. This action has raised questions among some in the crypto community.

vitalik.eth(@VitalikButerin) transferred 800 $ETH($2.01M) to a multisig wallet again 40 minutes ago 40 minutes ago.The multisig wallet swapped 190 $ETH for 477K $USDC later.On Aug 9, #Vitalik also transferred 3,000 $ETH($8.04M) to this multisig wallet.https://t.co/81Vf39bvbL pic.twitter.com/6IlwtcqvPg

Within two hours of Lookonchain’s post, the comment section already had more than 160 comments, with many expressing concerns that the co-founder is selling the ETH tokens.

According to Lookonchain, Buterin also transferred 3,000 ETH, valued at around $8.04 million at the time, to the same multi-signature wallet earlier in April.

While the purpose of Buterin’s actions remains unclear, some speculate that he may be gradually selling his ETH holdings to avoid大幅な売り圧をかけずに大量のETHを売却しているのかもしれない。一方、マルチシグの一部署出金後にチェンジャーを利用してETHを売却している可能性もある。

small traders from putting heavy selling pressure on the market. Others suggest that a portion of the multi-signature wallet is being withdrawn and then sold through a changer.

If all the tokens transferred to the multi-signature wallet by Buterin were to be sold, it would amount to more than $10 million in liquidated ETH tokens.

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