Ethereum

2024

Litecoin

when

Verge

<ul>
 <li><strong>Vitalik Buterin moved $2.01 million ETH to a multisig wallet.</strong></li>
 <li><strong>ETH sales fund charitable projects and ecosystem support, Buterin clarifies.</strong></li>
</ul>
<p>Vitalik Buterin, co-founder of Ethereum, has once again captured the crypto community’s attention with a major ETH transaction. According to Lookonchain, Buterin recently transferred 800 ETH, valued at approximately $2.01 million, to a multisig wallet. Shortly thereafter, 190 ETH from this wallet was exchanged for 477,000 USDC, a stablecoin pegged to the U.S. dollar.</p>
<p>This move follows a larger transfer on August 9, when Buterin shifted 3,000 ETH, worth around $8.04 million, to the same wallet. These transactions have reignited debates within the Ethereum community regarding the cryptocurrency’s role as a store of value, especially amidst concerns about large-scale ETH sell-offs by the&nbsp; major holders, commonly known as “whales.”</p>
<p>In response to a tweet questioning the focus on founders’ sales, Buterin clarified, “I haven’t sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the Ethereum ecosystem or broader charity (e.g., biomedical R&amp;D).”</p>
<div align="center">
 <blockquote class="twitter-tweet">
  <p lang="en" dir="ltr">I haven't sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the ethereum ecosystem or broader charity (eg. biomedical R&amp;D)</p>— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1829801352500801538?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 31, 2024</a>
 </blockquote>
 <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
</div>
<p>This news comes in the wake of rising speculation about the Ethereum Foundation’s ETH reserves. Recently, the organization transferred 35,000 <a href="https://thenewscrypto.com/can-ethereum-eth-defy-the-odds-and-rise-in-september/" target="_blank" rel="noopener noreferrer nofollow">ETH</a>, valued at $94 million, to Kraken, sparking questions about the transparency of its operations.</p>
<h3 class="wp-block-heading" id="h-vitalik-picks-dexes-over-cexes">Vitalik Picks DEXes Over CEXes</h3>
<p>Amidst these developments, Buterin also weighed in on social media discussions about decentralized <a href="https://thenewscrypto.com/coinbase-achieves-milestone-with-first-ai-to-ai-crypto-transaction/" target="_blank" rel="noopener noreferrer nofollow">exchanges</a> (DEXs) versus centralized exchanges (CEXs). Responding to a tweet about CEX usability, Buterin praised DEXs for their simplicity, <a href="https://x.com/VitalikButerin/status/1829790237674832204" target="_blank" rel="noopener noreferrer nofollow">stating</a>, “DEXes are actually more convenient. No signup process, no accounts, no deposit/withdraw process, just go to the page, click swap, and confirm in your wallet.”</p>
<p>In market news, Ethereum, the leading altcoin, is trading at $2,520, reflecting a minor <a href="https://coinmarketcap.com/currencies/ethereum/" target="_blank" rel="noopener noreferrer nofollow">decline</a> of 0.12%. The trading volume has decreased by 2.3%, and the daily RSI is at 39, indicating an oversold condition.</p>
<p><strong>Highlighted News Of The Day</strong></p>
<p><a href="https://thenewscrypto.com/is-litecoin-ltc-on-the-verge-of-a-bullish-surge/" rel="noopener noreferrer nofollow">Is Litecoin (LTC) on the Verge of a Bullish Surge?</a></p>

Vitalik Buterin Addresses Criticism Over Recent ETH Sell-Off

Table of Contents

TheNewsCrypto

Other articles published on Aug 31, 2024

Bitcoin Mining Firm, Rhodium Enterprises, Gets Court Approval For $30M Loan Amid Bankruptcy

Telegram CEO Pavel Durov Released on €5M Bail Amid Serious Charges

Top Crypto Gainers Today Aug 31 – Uniswap, JasmyCoin, Neo, BinaryX

3 Emerging Altcoins Set to Lead the Charge in 2025

Ravencoin Price Prediction 2023-2032: Can RVN reach $10?

These Are the Top 10 RWA Cryptocurrencies by Development Activity

Join our free newsletter for daily crypto updates!