A wallet tied to Ethereum co-founder Vitalik Buterin has caught the crypto community’s attention due to recent large ETH transfers to external addresses.
As market watcher Lookonchain highlighted, the source wallet “0xD04daa” transferred 1,300 ETH, worth approximately $3.17 million, to the anonymous address “0x5567A” a few hours ago.
This latest transaction from the Ethereum address associated with Buterin comes at a time when ETH is witnessing a significant bull run. Ethereum has pumped by 6.3% today, trading at $2,450. This sparks speculation about whether the moved funds are for strategic profit-taking.
Interestingly, after receiving the funds, the receiving wallet deposited 74.17 ETH, worth around $181,000, to Paxos, a known crypto brokerage firm.
Remarkably, this isn’t the first time these wallets have interacted. Roughly 348 days ago, wallet “0xD04daa” sent 1,000 ETH worth $2.45 million to the same “0x5567” address. That sum was subsequently deposited into Bitstamp, a prominent crypto exchange.
Notably, shortly before that transfer, wallet “0xD04daa” had dispatched 2,999 ETH in two transactions to wallet “0x5567A.” Essentially, these two wallets are now transacting again after nearly a year of inactivity.
Historical Connection to Vitalik Buterin
Meanwhile, address “0xD04daa” has historical connections to Ethereum wallets Vb 2 and Vb 3, widely associated with Vitalik Buterin.
In May 2022, Vb 2 sent 1 ETH to “0xD04daa,” which was returned a few minutes later, suggesting a direct link between the wallets. These two wallets have not interacted since then.
However, in November of the same year, Vb 3 sent a staggering 70,000 ETH (worth $171.5 million) in two transactions to “0xD04daa.” And this time, the funds were not returned.
In fact, Etherscan data shows that the original source of the 70,000 ETH was “vitalik.eth,” the official address of Ethereum’s founder.
Buterin’s Clarification on Continuous ETH Sales
In recent months, wallets associated with Buterin have consistently moved ETH to external destinations, raising concerns about potential sell-offs. Buterin has not denied these transactions and recently addressed the issue after being questioned about repeatedly selling millions of dollars in ETH.
Buterin clarified that some of the sales are for charitable causes he supports rather than for personal profit. He also noted that certain transactions occur automatically with pre-authorization.
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