Vitalik Buterin, the co-founder of Ethereum, attracted all eyes in the cryptocurrency market with the on-chain transactions he carried out since the morning hours today. According to the records reflected in Arkham data, Buterin managed a sales traffic of hundreds of thousands of dollars by converting his large amount of assets into cash through different protocols. These transactions, which spanned a period of approximately 12 hours, caused great activity in the cryptocurrency world.
Sales Wave Via CoW Protocol
Buterin, one of the most followed names in the market, made serial transactions earlier today, especially using the CoW Protocol. Looking at the shared transaction records, it is seen that the famous software developer issued WETH (Wrapped Ethereum) in packages of 142,857 units in his moves that took place approximately two to six hours ago. It can be clearly seen that GHO, a stablecoin, was provided in return for these outflows.
When the total volume of these clearing operations is examined, it is understood that each main transaction is in the range of approximately 282 thousand dollars and 284 thousand dollars. While wallet movements prove that hundreds of thousands of dollars of ETH-based assets changed hands in just a few hours, why Buterin sought such liquidity became one of the most discussed topics in the community. Financial circles are trying to analyze the effects of the transfers made by the founding name in such a short time on the market depth.
Another noteworthy detail in the wallet data is that transactions are not limited to decentralized exchanges. Buterin’s wallet also interacted with different platforms such as Aave and Socket, showing small-scale movements in USDC and other asset types. However, the real emphasis was on the huge WETH sales generated through the CoW Protocol. This situation presents a concrete picture showing that the founding leader is engaged in strategic portfolio management.
Behind the Scenes of Wallet Transactions and Numbers
When we go into the details of the news, the 3,500 WETH transfers that took place seven hours ago and the accompanying volume of approximately 7 million dollars were recorded as the most striking data of the day. These huge amounts coming out of Vitalik Buterin’s wallet were used both to update his positions on the Aave platform and to carry out burning or similar operations by sending a certain amount of assets to the zero address known as the “Null Address”.
In particular, the $284,000 GHO purchase made six hours ago strengthens the possibility that Buterin may have turned to stablecoins to protect himself from volatility in the market. The fact that each transaction was recorded in the Blockchain ledger, second by second, ensured that this massive sales operation did not remain secret. Investors interpret the fact that a name seen as the father of Ethereum has made such a big exit from its ecosystem as a precursor to possible price fluctuations in the coming days.
This financial traffic, which covers a total of 12 hours, can be described as not only a sales operation but also a complex wallet optimization. With this activity that continued throughout the day, Buterin both changed the liquidity balance and managed to make headlines in the cryptocurrency world. These huge transfers, which are watched instantly by the whole world thanks to the transparent structure of crypto currencies, seem to cause corporate and individual investors to reconsider their strategies.
