Vitalik Buterin has taken to move his Ethereum to the Coinbase exchange platform after the Ethereum price recently plunges into the mud.
Vitalik Buterin Escapes The Ethereum Price Drop Saga
Blockchain sleuths have noted that Viterin transferred up to 1M$ worth of Ether that belonged to Vitalik Buterin. This happened shortly after the price of Ethereum went plummeting down last week after the market capitalization went down by 6%. The Ethereum wallet is said to have moved 600 ETH on August 21st.
Lookonchain also made it clear that vitalik.eth has just finished paying off 250,000 RAI tokens on Maker and withdrew 1000 ETH worth 1.67 million. The move of the 600 ETH sparked a lot of discussion on social media. The loss is speculated to be what has made Buterin take such an action.
— Lookonchain (@lookonchain) August 21, 2023
The Value Of Ethereum And Where It Stands In The Market
At the time of writing, the price of Ethereum is at $1673.29 and has a market capitalization of 201.5 billion dollars. The trading volume at the time is 4.77B dollars and is currently ranked number 2.
Ethereum saw a major loss last week with one of the Whales dumping a large amount of Ether enabling it to avoid a large loss of 5$ million.