Ethereum Founder Quietly Deposits Millions in Stablecoins: What's His Game Plan? – U.Today

0

In a surprising turn of events, Ethereum founder Vitalik Buterin has made significant moves on the crypto market, depositing millions of USDC into major exchanges, sparking speculation about his strategic intentions. 
Lookonchain reports that Buterin’s address, vitalik.eth, received a staggering 14.93 million USDC from Kanro merely four days ago, promptly depositing it into Gemini just before the first surge of Bitcoin.

Related
Veteran Trader Peter Brandt Comments on Ethereum (ETH) Chart Pattern

Buterin’s actions intensified when he deposited an additional 500,000 USDC into Coinbase merely two days ago, adding to the intrigue surrounding his motives. This comes after months of speculation, as Buterin previously deposited his ETH holdings on various exchanges, a move interpreted as a bearish signal by the crypto community.
vitalik.eth received 14.93M $USDC from #Kanro 4 days ago and then deposited it into #Gemini yesterday before the first surge of $BTC.#Vitalik also deposited 500K $USDC into #Coinbase 2 days ago.

What did he do with the $USDC?https://t.co/o3u5JjjapUhttps://t.co/Z69WG0xuNP pic.twitter.com/dwTt7tzHp8
The recent actions, however, paint a different picture. It appears that the Ethereum founder has shifted gears, opting to stockpile stablecoins instead of tokens, leading to speculations about his newfound bullish sentiment. 
This twist in Buterin’s investment strategy seems particularly astute, as it coincided with a momentous surge in the crypto market. Bitcoin, for instance, shot up by over 13%, while Ethereum witnessed a 5% increase.

Related
Ethereum Co-Founder Vitalik Buterin Makes Another ETH Sale: Details

Nonetheless, the veil of secrecy surrounding Buterin’s intentions remains intact, as tracking further fund movements on his exchange accounts remains impossible. Until the enigmatic Ethereum founder unveils his next move, the crypto community is left to ponder: what is his endgame?
Financial analyst, trader and crypto enthusiast.
Gamza graduated with a degree in finance and credit with a specialization in securities and financial derivatives. He then also completed a master’s program in banking and asset management.
He wants to have a hand in covering economic and fintech topics, as well as educate more people about cryptocurrencies and blockchain.
Disclaimer: The opinions expressed here are not investment advice; they are provided for informational purposes only. The opinions expressed by our writers are their own and do not represent the views of U.Today. Every investment and all trading involves risk, so you should always perform your own research prior to making decisions. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. We do not recommend investing money you cannot afford to lose.

source

Leave a Reply

Your email address will not be published. Required fields are marked *