Vitalik Buterin Deposits 2,000 ETH to Bitstamp Crypto Exchange

Ethereum founder Vitalik Buterin. (Photo; Doc. MoneyControl)

JAKARTA - In a recent disclosure of blockchain data, it was revealed that around 2,000 ETH worth 3.12 million US dollars (IDR 47.8 billion) had been moved from one of the crypto wallets connected to Ethereum co-founder Vitalik Buterin.

A total of 2,000 ETH was transferred to the wallet address "0x5567". This transaction has caught the attention of the crypto community, primarily due to its timing and amount.

This is not the first time a major transfer has occurred in the past month. Data shows that in that period, wallets associated with Buterin have deposited a total of 2,700 ETH worth 4.77 million US dollars (IDR 73.2 billion) to Bitstamp via the same "0x5567" address.

The wallet address “0xD0...8fd7,” which is also associated with Vitalik Buterin, recently made a transfer and currently has a substantial balance of around 37,000 ETH. Over the past year, wallets linked to Buterin have deposited a total of 7.49 million US dollars (IDR 114.9 billion) to Bitstamp and 3.3 million US dollars (IDR 50.6 billion) to Paxos, all through the wallet address "0x55".

Transactions of this kind to exchanges often cause concern in the market, especially when the market is unstable. Typically, such transfers are associated with an intention to sell assets. With Ethereum's price experiencing pressure recently, Buterin's transfer could add to the selling pressure on the digital asset.

However, the motive behind this transaction is still speculative. Although transfers to exchanges are often associated with an intention to sell, the exact purpose of these transactions remains unclear.

Previously, Vitalik Buterin deposited 600 ETH worth around 1 million US dollars (IDR 15.3 billion) to Coinbase, which coincided with the decline in Ether prices last month.