Canadian computer programmer and co-founder of Ethereum, Vitalik Buterin recently executed a large-scale ETH transaction, sparking interest in where the funds were going.
Buterin Donates 100 ETH to Ethereum-Focused Organization
On July 6, Buterin transferred approximately 99.9 ETH tokens worth approximately $300,000 to a wallet address starting with 0x82 for secure proxy Gnosis. The transaction, spotted by blockchain analytics platform Arkham Intelligence and confirmed by on-chain data, was executed using one of Buterin’s primary wallet addresses.
Reports indicated that the destination of the 100 ETH would be a community organization, the 2077 Collective. Interestingly, Buterin donated the funds to an organization that systematically promotes the adoption of the Ethereum blockchain.
The 2077 Collective is a group of creatives, researchers, developers and marketers dedicated to improving Ethereum Adoptionaimed at fueling further growth and progress within the ecosystem. The organization has also revealed plans to promote The expansion of Ethereum in and out of the crypto space.
In his efforts to support the goals of the innovative organization, Buterin has donated a significant amount to empower members of the 2077 Collective and potentially facilitate the Ethereum blockchain growth.
Typically, when a high-profile figure like Buterin initiates a substantial Ethereum transfer, it tends to lead to widespread speculation as the market tries to understand the reasons for the transaction and the potential market implications.
Now that Ethereum price action is visible signs of fragilityA transaction from one of the cryptocurrency’s founders is sure to capture the market’s attention. The cryptocurrency is trading below all-time highs, regularly experiencing declines that have led to an accident by almost 20% over the past month.
At the time of writing this article, The price of Ethereum is $3,062, reflecting a decline of 11.82% over the past week, according to CoinMarketCap. Despite the declinesThe cryptocurrency’s trading volume is up 66.73%, highlighting continued investor interest and demand for the altcoin.
Buterin’s philanthropic contributions to ETH
Buterin’s recent 100 ETH transfer is one of many ETH Transactions initiated over the years. Earlier in 2023, Buterin revealed that he had I have never sold Ethereum for personal use since 2018.
At the time, the Ethereum co-founder revealed that his ETH transfers were primarily charitable donationsnon-profit organizations or COVID-related causesTo bolster his claims, Buterin is well known for his generosity in the crypto field.
The cryptocurrency founder has constantly made headlines for his philanthropic contributions and efforts to support growth and innovation in the space. Despite holding a significant amount of assets, Buterin is constantly contributing to the crypto community and the world in different ways.
Data from Arkham Intelligence revealed that Buterin’s wallet contains approximately $1.99 million, with the majority of his assets in Ethereum. Specifically, the wallet contains approximately 357,273 ETH and a varied portfolio of other major altcoins.
Featured image created with Dall.E, chart by Tradingview.com
