Key Points
- Vitalik Buterin has transferred 1.3 million STRK tokens, causing a 4.53% price increase.
- Buterin also transferred 800 ether worth over $2.1 million, leading to rumors of a large-scale selloff.
Vitalik Buterin, co-founder of Ethereum, has recently been involved in significant cryptocurrency transfers.
He moved 800 ether, valued at over $2.1 million, to a multi-signature wallet. This action has ignited speculations about a possible large-scale selloff.
Vitalik Buterin’s STRK Movements
On September 4th, Buterin also withdrew 1.268 million Starknet [STRK] tokens from Starknet’s Locked Token Grant contract. The tokens were worth around $470,000.
This information was revealed by Wu Blockcahin’s X post. The post stated that Buterin now holds a total of 2.113m STRK, valued approximately at $781,000. Apart from ETH, this is Buterin’s most valuable token.
The value of these tokens increased to $854,730 at $0.39 per token, leading to speculations about Buterin’s future plans.
STRK has now become the second-largest token holding for Buterin, after Ethereum. In May, Buterin made a similar transfer of 845,205 STRK tokens, which resulted in a significant price increase.
Effect on STRK Market
The recent transfer seems to have caused a similar market reaction. As per the latest CoinMarketCap update, STRK experienced a rise of 4.53% in the past 24 hours, trading at $0.3983.
An analysis of TradingView data indicated a cautiously bullish sentiment, with the RSI slightly above neutral at 51, suggesting potential upward momentum. However, the RSI dipped slightly, making the bullish outlook uncertain.
The MACD line’s position above the Signal line confirmed the presence of bullish activity. It also hinted at a possible sustained rally if STRK surpasses its resistance at $0.43.
Before this STRK token withdrawal, Buterin moved various tokens, including PIKA, ETH, DIMO, and POKT, between his wallets. This sparked questions about his future intentions.
Some believe these transactions indicate another charitable donation, following his past patterns. Others interpret these moves as strategic reallocations within his portfolio.
Regardless of the motive, Buterin’s actions have stirred curiosity about his broader plans, prompting the market to anticipate further developments.
