Blockchain analytics show that a $100,000 ether transaction using the Ethereum Name Service (ENS) domain “vitalik.eth” resulted in the conversion of that amount of ether into an equivalent number of stablecoins on the Base blockchain. The address, which is allegedly owned by Vitalik Buterin, one of Ethereum’s co-founders, presently has 955.58 ether, valued at approximately $3.64 million.
“Vitalik.eth” Wallet Bridges to Base and Makes a Strategic $100K Ether-Stablecoin Swap
Leading blockchain intelligence company Peckshield revealed on March 4, 2024, that the ETH account “vitalik.eth” had made a trade, exchanging $100,000 in ether for USDC. This is the account that on August 21, 2023, sent $1 million worth of ether to Coinbase, then on December 20, 2023, it sent another $1 million transaction. Peckshield claims that the money was sent to Railgun, who converted it into USDC before being added to the Base network.
The Peckshield alert system said, “Peckshield Alert vitalik.eth – labeled address has transferred 30 ETH to Railgun and swapped ~27.63 ETH for 100K USDC, bridging them to Base.”
The “vitalik.eth” account is in possession of a variety of ERC20 tokens that are worth slightly less than $162,000, and it has a balance of 955.58 ETH, which is worth $3.64 million. This amount is negligible when compared to Buterin’s total assets. According to data from Arkham Intelligence, Buterin has a substantial holdings worth around $1 million in wrapped ether (WETH) and about 245,774 ETH, valued at $934 million.
In addition, Buterin has $698,520 in KNC coins and $167,350 in DINU tokens in his portfolio. A portion of these lesser-known coins are occasionally traded on Uniswap. The market value of ETH has noticeably increased in tandem with the recent transfer of $100,000 in ETH to USDC on Base. In the past day, the price of one Ethereum (ETH) token has increased by 4.8% to $3,850. In relation to the US dollar, ETH has increased in value by more than 67% throughout the last month.
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