- Crypto mogul and Ethereum co-founder Vitalik Buterin transferred 800 ETH to a multisig wallet, to which he transferred 3000 ETH earlier this month.
- The transferred 800 Ethers were later converted into USDC, 4th most traded cryptocurrency in the market.
- On August 19, Todayq reported that Buterin had transferred 400 Ether to Railgun.
The co-founder of Ethereum remains in the spotlight due to the frequent transfer of digital assets he held, specifically, the ETH. From the beginning of 2024 till August 30, he transferred his funds several times to different wallets and addresses.
On August 30, 2024, Lookonchain, a blockchain analysis firm, noted in an X post that Vitalik Buterin had moved 800 ETH to a multisig wallet. The post additionally notes that the wallet swapped 190 ETH for 477k USDC.
The wallet determined is the same wallet that received 3000 ETH from Buterin’s address on August 09, 2024. Market watchers argue that the recent transfer and conversion led to the ETH price below the mark of $2,600.
When writing, Ethereum was trading at $2,525 with an intraday decline of 1.80%. However, its prices are over 10% down in the monthly frame and 5.08% in a week.
On August 19, 2024, Todayq noted that Buterin had moved 400 Ether to Railgun. Railgun is a privacy and anonymity system created on the Ethereum blockchain.
He allegedly moved 662 ETH to Railgun over the past ten months. Buterin’s notable donation includes 200 ETH to an Animal Welfare Charity and over $1B of SHIB to the Indian Covid-Crypto Relief Fund.
Other Market News
The internet giant of South Korea, Naver, launched its first in-house crypto wallet in partnership with Chiliz.
Todayq noted that the launched wallet is named ‘Naver Pay’ and is a mobile payment service; its new crypto wallet offers a non-custodial wallet, enabling users to control their private keys and digital assets directly.
On August 29, 2024, a solo Bitcoin miner made many headlines after mining block number 858,978 on the Bitcoin blockchain, receiving 3.275 BTC as a prize for solving the block.
The Bitcoin mining reward was cut in half from 6.25 BTC to 3.125 BTC after the fourth Bitcoin halving was completed on April 19, 2024.
Crypto Market Price Updates
At press time, the fear and greed index powered by CoinMarketCap was at 46, reflecting neutrality. In the past 24 hours, the crypto market capitalization fell over 1.20%, reaching $2.08 Trillion.
Bitcoin seems trapped in the range between $58,500 and $62,108; as of press time, it was trading at $59,556 with a decline of 1.31% intraday. Market experts argue that the continuous outflow of Bitcoin ETFs boosts price volatility.
Others speculate that the outflow from the exchanges could be a reason behind the fall.
Floki continued to bleed, losing over 17.51% of its trading price in the past 24 hours, reaching $0.0001268. Until publishing, its market capitalization has been over 18.64% in losses compared to the previous day.
DOGS lost 9.67% intraday, reaching $0.001276; the drop in the intraday trading volume has pulled DOGS to the 11th position in terms of trading volume.
