Major ETH Transfer from Buterin-Linked Wallet Draws Attention
A wallet associated with Ethereum co-founder Vitalik Buterin has made headlines once again after transferring 1,300 ETH, valued at approximately $3.17 million. This significant transaction, involving wallet “0xD04daa” sending funds to the anonymous address “0x5567A,” has sparked widespread speculation across the crypto community, as Ethereum (ETH) continues to experience a strong price rally.
History of Wallet Interactions Raises Questions
This recent transaction is not the first interaction between these two wallets. Approximately 348 days ago, wallet “0xD04daa” transferred 1,000 ETH, worth $2.45 million, to the same address. Shortly after that transfer, the funds were deposited into Bitstamp, a prominent cryptocurrency exchange. This recurring pattern of large ETH transfers between the two addresses has prompted curiosity regarding the motive behind the latest move.
Ethereum Price Surge Adds to Speculation
The timing of this ETH transfer coincides with a significant 6.3% surge in Ethereum’s value, with the cryptocurrency now trading at $2,450. The market’s sharp rise has led to speculation that Buterin, or entities linked to his wallets, may be strategically moving ETH to capitalize on the recent price increase. Alternatively, some believe these funds may be earmarked for charitable causes.
The wallet "0xD04d" related to @VitalikButerin transferred 1,300 $ETH($3.17M) to wallet "0x5567" again 1 hour ago.
Wallet "0x5567" then deposited 74.17 $ETH($181K) to #Paxos.
The last time wallet "0xD04d" transferred 1,000 $ETH($2.45M) to wallet "0x5567" was 348 days ago, and… pic.twitter.com/S6TsqyhK20
— Lookonchain (@lookonchain) September 19, 2024
74.17 ETH Sent to Paxos Following Transfer
After receiving the 1,300 ETH, the wallet “0x5567A” swiftly deposited 74.17 ETH (around $181,000) to Paxos, a well-known cryptocurrency brokerage. The swiftness of this transaction further fuels speculation about the purpose of the transferred funds and whether this represents a broader strategy of profit-taking or liquidity positioning.
Historical Ties to Vitalik Buterin’s Wallets
The wallet “0xD04daa” has historical connections to Ethereum wallets “Vb 2” and “Vb 3,” both of which are widely associated with Vitalik Buterin. In May 2022, “Vb 2” sent 1 ETH to “0xD04daa,” which was returned shortly afterward, indicating a direct link between the wallets. However, it was in November 2022 when the most significant transfer occurred, with “Vb 3” sending 70,000 ETH, worth $171.5 million at the time, to “0xD04daa.” Unlike previous transactions, this massive transfer was not reversed.
Buterin’s Response to ETH Sell-Off Concerns
In response to growing concerns within the crypto community regarding frequent large transfers from his associated wallets, Buterin clarified that some of the ETH sales are for charitable donations rather than personal profit. Additionally, he revealed that certain transactions are automated, occurring with pre-authorization. According to Etherscan data, the original source of the 70,000 ETH was “vitalik.eth,” the official address of Ethereum’s founder.
Market Watchers Stay Alert for Future Moves
As Ethereum continues to rise, market analysts are keeping a close eye on wallets linked to Vitalik Buterin, watching for any further substantial transactions. With the market sentiment leaning bullish and Ethereum’s price surging, the crypto world remains vigilant for signs of additional strategic moves or sell-offs.
