Vitalik Buterin Sends 600 Ethereum (ETH) Worth Over $1,000,000 to Coinbase As Crypto Markets Continue To Bleed

Ethereum (ETH) founder Vitalik Buterin has been spotted sending hundreds of ETH to a major US-based digital asset exchange.

According to Ethereum blockchain tracker Etherscan, a wallet owned by Buterin shifted 600 ETH worth over $1 million to Coinbase, where it could potentially be sold on the open market.

According to Etherscan, Buterin paid less than $0.50 in fees to complete the transaction.

The Ethereum founder has been turning heads this year amid a series of on-chain transactions.

In March, Buterin moved 200 ETH worth over $323,000 to a wallet of unknown origin. The ETH trove was subsequently moved to the crypto exchange Kraken where it could potentially be sold on the open market.

On March 11th, Blockchain security firm Peckshield also detected activity from Buterin’s wallet after the Ethereum founder sent 500 ETH to stablecoin-focused decentralized finance (DeFi) protocol Reflexer.

Peckshield showed that Buterin used the 500 ETH as collateral to accumulate stablecoins to the tune of 378,500 USD Coin (USDC) and 50,000 Dai (DAI).

Earlier this month, leading blockchain-monitoring firm Lookonchain spotted Buterin unloading troves of meme tokens. According to Lookonchain, Buterin sold $693,000 worth of Mops (MOPS), Cult DAO (CULT) and Shikoku (SHIK), which he received as gifts.

The Ethereum co-creator has a history of getting rid of the massive amounts of tokens often gifted to his address by smaller projects.

At time of writing, ETH is trading at $1,660.

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