Vitalik Buterin, founder of Ethereum, was caught sending 100 ethers (ETH) to the Coinbase brokerage this Wednesday (1st). The amount corresponds to R$915,000, but it is likely that the developer has not sold his coins.
Known for moving millions in ETH on a regular basis, Buterin explained last month that he hasn’t sold his coins since 2018. In other words, transactions from his address are donations to other projects, which can then sell the ethers he received from the developer.
“I don’t sell, I almost always donate to a charity, non-profit or some other project, and the recipient sells because, well, he has to cover the costs.”Buterin recently explained.
Vitalik Buterin sends 100 ETH to Coinbase
Regardless of the reasons, the transactions carried out by Vitalik Buterin always attract the attention of the community. Regardless of who is selling, Buterin or an NGO, the amounts are large enough to put pressure on the market.
“Vitalik.eth transferred 100 ETH to Coinbase Prime.”
#PeckShieldAlert Vitalik.eth transferred 100 $ETH I am #Coinbase Prime pic.twitter.com/618RL5hU7k
— PeckShieldAlert (@PeckShieldAlert) November 1, 2023
During the 2021 cryptocurrency boom, Ethereum’s founder became a billionaire (in dollars), but ultimately lost much of his fortune with the fall of ETH in the following years. At the time of writing, Ethereum is trading at exactly $1,800, still far from its all-time high of $4,900.
Vitalik Buterin talks about second layer solutions
On his social networks, Vitalik Buterin did not comment on the 100 ethers movement. Apparently, the developer is more concerned with solutions that improve the experience of cryptocurrency users.
The founder of Ethereum published a text about second-layer solutions on his personal blog on Tuesday (31). “Ethereum’s second layer ecosystem has expanded rapidly over the past year”starts the developer.
Then Buterin explains the differences between the different models present in the sector, such as roll up, valid It is disconnected. In short, these solutions allow both users and developers of side projects (such as tokens, NFTs and the like) to pay cheaper fees due to the scalability of these chains.
Finally, despite its major upgrade in 2022, Ethereum has failed to beat Bitcoin since then. For some critics, such as Max Keizer, ETH is nothing more than a ‘useless Ponzi’.
Source: Live Coins
Barry Siefert is an accomplished journalist and author at The Nation View. He is known for his expertise in the field of cryptocurrency, and has written extensively on the topic. With a background in finance and economics, Barry has a deep understanding of the underlying technology and market forces that drive the crypto industry.
