Vitalik Buterin, the co-founder of Ethereum, recently transferred 200 ETH (around $382,796 at current market rates) to an address belonging to Kraken, a popular cryptocurrency exchange. The blockchain security platform PeckShieldAlert reported the transaction. It is unclear why Vitalik conducted the transaction, though some people suggest he is preparing for the possible listing of PEPE on the platform.

This was not the first time Vitalik initiated a large-scale transaction. In March 2021, he transferred 500 ETH to the REFLEXER platform to mint 150K RAIs, and sent 132.5K RAI to exchange for 378.5K USDC. Buterin also sent 200 ETH to Kraken in May. The Ethereum spokesperson has been known to dispose of tokens sent to him as gifts, with Lookonchain reporting Vitalik sold tokens worth $693,000 in March.

Moreover, the current transaction comes at a time when the cryptocurrency market is stable with no significant price movements. PEPE token, WOJAK, and Floki Inu being the best performing coins in the last 24 hours. PEPE’s market cap even went past $1 billion.

Though there is no official information about why Vitalik sent 200 ETH to Kraken, speculations have been rife. It was widely speculated that he had sold the coins to fund his future projects. Buterin is well-known for his philanthropic activities, which often involve giving away profit from token sales.

In conclusion, Vitalik Buterin’s sudden movement of huge cryptocurrency assets, in this case 200 ETH to Kraken, often needs closely watching. While there are many theories as to why he made the transaction, the philosophical reasoning may remain unknown. All that is certain, is that he has broken records in the market, with PEPE token reaching its new valuation.



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