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Ethereum Whales and Buterin Move $31 Million in ETH

source-logo  coingape.com 21 September 2023 08:20, UTC

Amid a stagnant September for Ethereum (ETH), notable transactions from key players are taking place in the market. Whale Alert recently disclosed a significant move from a long-dormant Ethereum ICO wallet. This comes on the heels of other substantial transfers, including those from Ethereum co-founder Vitalik Buterin.

On September 20, an Ethereum ICO wallet linked to core developer Danno Ferrin sprang to life after over eight years of inactivity. The wallet transferred 192.2 ETH, roughly $313.2k, to Coinbase. The Data Nerd broke down the transactions into two parts, which are 32.1 ETH and 160.1 ETH. Despite its modest size, this move adds to a growing list of transactions from early Ethereum participants.

33 minutes ago, an Ethereum ICO participant woke up after 8 years and transferred 192.2 $ETH ($313.2K) to #coinbase.

He received 200 $ETH from the Ethereum Genesis. pic.twitter.com/zD8qAHkSCy

— The Data Nerd (@OnchainDataNerd) September 20, 2023

Ethereum Whales Stir Market with Major Moves

Additionally, Lookonchain shared data that revealed other significant transfers. On September 18, an ICO participant moved 6k ETH, worth an estimated $9.96 million, to Kraken. The following day, another whale transferred 10k ETH, valued at around $16.5 million. This whale had also moved similar amounts to Binance, OKX, and KuCoin just four days earlier, ending two years of dormancy.

On 19th September, PeckShield reported that Vitalik Buterin transferred 300 ETH, approximately $490k, to Kraken. Another dormant wallet sold 2,591 ETH for $4.18 million in stablecoins. Consequently, the total ETH moved by ICO participants and Buterin in the past two days is about $31 million.

However, the market has yet to react strongly to these high-profile moves. Currently, Ethereum price is trading at $1618.3239 with a 24-hour trading volume of $4,120,380,992. Significantly, the asset has seen a 1.49% drop in the last 24 hours. Hence, while these transfers have caught the crypto community’s attention, their impact on Ethereum’s price remains to be seen.