Vitalik Buterin, the esteemed co-founder of Ethereum, has recently transferred a substantial amount of 200 ETH (equivalent to approximately $382,796 based on current market rates) to an address linked to the reputable Kraken cryptocurrency exchange. This noteworthy transaction was brought to light by the blockchain security platform PeckShieldAlert, providing valuable insights into the movement of digital assets within the blockchain ecosystem.
At the time of reporting, the intention driving the transaction remained ambiguous. A Twitter user responded to PeckShieldAlert’s tweet, suggesting that Vitalik is privy to the fact that PEPE is slated for listing on Kraken.
Vitalik’s latest maneuver has precedent. The address bearing his name had previously injected 500 ETH into Reflexer, resulting in the minting of 150k RAI, and exchanged 132.5k RAI for 378.5k USDC in March 2023. In May, he also transferred 200 ETH to Kraken.
According to Lookonchain, in March, Vitalik Buterin liquidated a sum of $693,000 in meme tokens, namely Mops (MOPS), Cult DAO (CULT), and Shikoku (SHIK), which he had received as gifts. It is customary for Buterin to divest the considerable volume of tokens that frequently inundate his address from emerging ventures.
Earlier, there was speculation that Vitalik had transferred 200 ETH to Kraken to sell it and utilize the funds for a project or expenses. However, the precise motive behind this transaction remains undisclosed. Notably, this movement of ETH occurred during a period of market neutrality, with no significant fluctuations.
In the past 24 hours, several meme coins have experienced significant gains, including the well-known PEPE, WOJAK, and Floki Inu. As PEPE’s market capitalization surpassed $1 billion, investors have eagerly sought to acquire it.
