Ethereum co-founder Vitalik Buterin has reportedly transferred 400 ETH to Coinbase, totaling $632,000. This brings the total amount of ETH transferred to various crypto exchanges in September to $3.94 million. According to blockchain analytics firm Spot on Chain, this transaction occurred at 01:43 AM (UTC) on Monday. Buterin has deposited a total of 2,421 ETH to multiple centralized exchanges (CEX) using two addresses over the past 10 days. The breakdown of fund transfers reveals that he sent 721 ETH, worth $1.159 million, to Kraken and Coinbase.
Additionally, 321 ETH were transferred to Kraken between September 15 and 19, while 1,700 ETH were moved to Bitstamp and Paxos between September 17 and 20. In another transaction, Buterin liquidated 500 Maker tokens (MKR) for 353.4 Ether, valued at around $580,000. This marked the first time he sold Maker tokens in two years, leading to speculation about his plans. On August 21, Buterin transferred $1 million worth of Ether to Coinbase following a 10% decline in its price and a broader market downturn.
Regarding ETH’s price, Coin Market Cap reports a remarkable 24-hour surge in trading volume, a 116.57% increase at press time. However, the price has shown a 1.01% slump in 24 hours, with the world’s second-largest crypto trading at $1,576 as of now. Additionally, Glassnode Alerts reveals that Ethereum’s gas usage has reached an 8-month low of 16.515 gwei, indicating a decrease. Ethereum gas refers to the fees users pay to process transactions or use smart contracts on the network.