Vitalik Buterin, the co-founder of Ethereum, has recently transferred 100 ETH, equivalent to $181,000, to Coinbase (NASDAQ:COIN). This move has ignited speculation within the cryptocurrency sector, as it contradicts his commitment since 2018 not to sell ETH for personal profit. The sudden transfer was reported on Thursday and has drawn attention due to the transparency of blockchain technology.
Buterin is well-known for his generous donations of ETH to charities and projects that advance Ethereum. His recent transfer has raised questions about a possible shift in his financial strategy. Some suggest that this move could be influenced by Ethereum's transition to Ethereum 2.0, which may necessitate a reassessment of his portfolio. Others propose it might be a strategic liquidation of assets to fund Ethereum's ongoing development and his philanthropic initiatives.
The transaction was first reported by Chinese crypto reporter Colin Wu and shared on social media. This sparked speculation among the cryptocurrency community due to Buterin's past commitment to use his ETH for philanthropic purposes rather than personal gain since 2018. The absence of official information about this transaction has further fueled speculation.
Simultaneously, Ethereum's price is under close scrutiny following a 20% surge over two weeks from $1,542 to $1,865. Despite the speculation and close monitoring of Ethereum's price, Buterin remains silent about his intentions behind the Coinbase transfer.
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