Vitalik Buterin Transfers Ethereum to Coinbase: Is He Selling ETH?

• The transfer of 100 Ethereum (ETH) tokens by Vitalik Buterin, one of the founders of Ethereum, to Coinbase has drawn attention within the crypto community.
• Speculatively, some crypto analysts have suggested that this might be for personal reasons or to fund another project.
• In a tweet shared on X (formerly known as Twitter), Ethereum’s founder Vitalik Buterin stated that he has not made any transactions for business or personal gain since 2018.

Vitalik Buterin, the founder of Ethereum, made another ETH transfer transaction today: Why is Buterin making these ETH transfers?

New Ethereum Transfer by Buterin Gains Attention

The transfer of 100 Ethereum (ETH) tokens to Coinbase by Vitalik Buterin, one of Ethereum’s founders, has attracted attention within the crypto community. Vitalik, as one of Ethereum’s founders, has come into the spotlight again for making transfers to several different cryptocurrency exchanges. On November 1st, the Ethereum transfers Vitalik made to Coinbase were worth approximately $181,000.

This move was taken as a sign that something might be happening soon, as Vitalik had previously stated that he had not sold ETH for personal gain since 2018.

Speculatively, some crypto analysts have suggested that this transfer could be for personal reasons or to fund another project. However, the main reason or the true nature of this mysterious transfer of 100 ETH worth $181,000 remains uncertain. Moreover, it is not certain whether Vitalik will continue to sell his assets or if this is a one-time event.

Vitalik Stated He Hasn’t Sold for Personal Gain

In a tweet shared on X (formerly known as Twitter), Vitalik Buterin stated that he has not made any transactions for business or personal gain since 2018. He further explained that the transfers of ETH tokens he made in recent years were for charitable purposes and donations.

Vitalik clarified that there is information about headlines like “Vitalik sends XXX ETH to [exchange]” and that these transfers have always been donations to a charity, a non-profit organization, or another project. The recipients will eventually have to sell ETH to cover their expenses. In general, since September 17, 2023, Vitalik Buterin has deposited approximately 3,700 ETH worth around $6.12 million into Bitstamp, Paxos, and Coinbase.

At the time of writing, the price of Ethereum is $1,800, showing a 0.62% increase in the last 24 hours, with yesterday’s volume decreasing by 13.47% to $6.65 billion. The market capitalization of Ethereum, the second-largest cryptocurrency, is $216.90 billion.