Ethereum founder transferred $11,160,000 to ETH in the last 2 weeks

Cryptocurrency experts monitoring the digital asset market reported that they noticed an unusual movement in Vitalik Buterin's accounts. According to them, the founder of the main altcoin has spent more than $11,160,000 in ETH over the past 2 weeks.

Analysts from LookOnChain shared this data. They noticed that a cryptocurrency wallet ending in “9e92” received 9,300 Ethereum. The funds came from an account ending in "d04d". At the moment, it is impossible to say exactly who exactly owns the wallet. Experts from LookOnChain suggest that it may be in the possession of both Vitalik Buterin and members of his family. Experts assure that the wallet ending with “d04d” belongs to the Ethereum developer.

Now the balance of the wallet with the completion of “9e92” is 170,913 Ethereum. At this rate, this is just over $267,000,000. Thus, the holder of ETH has become one of the largest holders of the main altcoin in the cryptocurrency market. Experts have found that the owner of the wallet is most likely a private individual, since according to the history of transactions, the name of any cryptocurrency exchange has never appeared there.

In the near future, it will not be superfluous to expect great volatility in the digital asset market involving Ethereum. This is due to the monitoring of Buterin's accounts by investors who, after such events, begin to take action and conduct trades. Cryptocurrency enthusiasts began speculating about the purpose of Vitalik transferring funds from his wallet. According to some members of the community, he decided to withdraw some of the money, since ETH rose by almost 20% in January.

At the time of writing, one Ethereum is valued at $1,564. The growth of the coin began on January 2, when it was estimated at $1,197. The main altcoin has already reached the maximum value of $1,600 twice in recent days. At the moment, in almost 3 weeks, Ethereum has been able to make its way, adding 30% to its value.

It is also worth noting that, in addition to the usual following of Bitcoin, ETH may be gathering the attention of investors around itself due to the anticipation of the upcoming Shanghai update. According to the developers, the focus of the update will be on the process of withdrawing coins from staking, and not on lowering the commission, as some people might have assumed.