Vitalik Buterin Sends 200 Ethereum to Kraken! So why?

The wallet address of Ethereum inventor Vitalik Buterin transferred 200 ETH to cryptocurrency exchange Kraken. Blockchain security platform PeckShieldAlert shared the details of the transaction. Meanwhile, Buterin had previously transferred 700 ETH to Kraken in March.

Ethereum inventor sent 200 ETH to Kraken. What does it mean?

Vitalik Buterin, co-founder of Ethereum, sent 200 ETH (equivalent to about $382,796 at current market rates) to an address on the Kraken cryptocurrency exchange. On-chain Blockchain security platform PeckShieldAlert shared data on the transaction.

The reason behind the transaction is not yet clear according to press time. One Twitter user commented under PeckShieldAlert’s tweet, stating that Vitalik knew that PEPE would be listed on Kraken. By the way, this is not the first time that Vitalik Buterin has made such a move. As we reported as Kriptokoin.com, the address labeled Vitalik deposited 500 ETH in Reflexer to print 150 thousand RAI and previously exchanged 132.5 thousand RAI for 378.5 thousand USDC in March 2023. In addition, the Ethereum inventor sent 200 ETH to Kraken in May.

Lookonchain stated in early March that Vitalik Buterin had sold a total of $693,000 worth of meme tokens, including Mops (MOPS), Cult DAO (CULT), and Shikoku (SHIK), which he received as gifts. It is not unusual for Buterin to sell large numbers of tokens, often sent to his address by smaller projects.

It was previously estimated that Vitalik sent 200 ETH to sell to Kraken and use the funds to finance a project or cover any expenses. However, Buterin did not make any statements. So it’s hard to say anything about the exact cause of these processes. The current movement of ETH comes at a time when the market is trading neutral without major fluctuations.

There is a meme coin craze in the market!

Meanwhile, meme coins have made notable gains in the past 24 hours. Some of these were the popular meme coins PEPE, WOJAK and Floki Inu. Investors flock to seize PEPE, which has a market cap of over $1 billion. Along with Kraken and Crypto.com, the world’s largest crypto exchange Binance has also added PEPE to its list. This also played an important role in the meme coin craze in the market.

At press time, PEPE has reached $0.000004151, a massive 153% increase in the last 24 hours. In addition to this, another meme coin, Floki Inu, has gained around 60% in the same time frame. These price spikes are a clear indication of the meme coin craze in the market.