Vitalik Buterin, co-founder of Ethereum, has executed a significant ETH transaction. But the transfer has attracted attention due to its destination, rather than the amount.
On July 6, Buterin moved 99.9 ETH tokens, that's approximately $300,000. The recipient was a wallet address starting with 0x82 for the Gnosis Safe Proxy.
Blockchain analytics platform Arkham Intelligence spotted the transaction. On-chain data confirmed it. Buterin used one of his main wallet addresses for the transfer.
Reports suggest the recipient is the 2077 Collective. This is a community-driven organization. It promotes Ethereum blockchain adoption.
The 2077 Collective comprises creatives, researchers, developers, and marketers. They aim to improve Ethereum's adoption and fuel growth. The organization plans to expand Ethereum's presence within and beyond the crypto space.
Large transfers by prominent figures often lead to market speculation. This transaction comes as Ethereum's price shows fragility. As we all witnessed, the cryptocurrency has declined nearly 20% in the past month.
Buterin has a history of ETH donations. In 2023, he revealed never selling Ethereum for personal gain since 2018. His transfers have mainly been charitable donations.
Arkham Intelligence data shows Buterin's personal wallet holds approximately $1.99 million. The majority is in Ethereum, with 357,273 ETH and various other altcoins. He doesn't appear to be holding any Bitcoin, which seems surprising. Or maybe, not.