- As per an on-chain expert firm, the Ethereum co-founder recently transferred 400 ETH to Railgun.
- Earlier, on August 09, Vitalik Buterin transferred 3000 Ethers to a multisig wallet.
- According to available information, he transferred 662 ETH (approx. $1.91M) to Railgun over the past ten months.
Vitalik Buterin, the co-founder of Ethereum, remains in the limelight for his statements and frequently transfers his digital assets for human well-being. In the past few quarters, Buterin’s wallet has made several transactions through various sources.
Arkham Intelligence, an on-chain data expert firm, noted that the crypto mogul had transferred 400 Ether to Railgun. On August 09, 2024, Lookonchain confirmed the transfer of 3,000 ETH to a multisig wallet.
As per available information, Railgun is a privacy and anonymity system built on the Ethereum blockchain. As of writing, 400 Ethers are worth $1034707.98; however, its price fell over 3% intraday.
According to the Web3 analysis platform SpotOnChain, Buterin transferred 662 ETH to Railgun over the past ten months. He donated 200 ETH to Animal Welfare Charity and contributed over $1B of SHIB to the Indian Covid-Crypto Relief Fund.
Ethereum Price Overview
After the approval of Ether spot ETFs, Ethereum’s price enjoyed appreciable growth; however, in the past few weeks, it has been struggling at $2500. It was trading at $2,950 when writing, with an intraday decline of 3.05%.
The current trading prices of ETH are below 20, 50, 100, and 200 days EMA. In YTD (year to date), Ethereum lost 10.18% of its market dominance, reaching 15.35%.
Despite the decline in prices and market dominance, Ether’s market capitalization outperformed by adding 55.35% in the past 52 weeks. When writing, the market capitalization of ETH was $311.842, with an intraday loss of $2.072B.
Other Market News Updates
Quidax, a Nigerian cryptocurrency trading platform, secured provisional regulatory approval to operate as an exchange. The platform became the first to secure provisional authorization to operate in the region.
As per information, the Upbit crypto exchange employees enjoyed a massive wage surge after the firm’s outstanding financial performance in Q1, 2024. Market watchers claim that South Korea, Upbit’s subsidiary, booked massive profits aimed at struggling markets and growing trading volumes.
Lido token prices have constantly fallen for the past 52 weeks; however, Lido has the highest TVL of $25.945 B, adding +3.70% weekly. Follow-up lower lows signal the lack of buying traction, which led to a significant correction.
As per Glassnode’s August 11 data, around 45% of the Bitcoin has been dormant for over six months, less than half of the total existing BTC.
Analysts assert that this situation leads to lesser availability of BTC for new crypto-traders. When the supply is squeezed, the price increases for a commodity; Bitcoin is no different.
