Vitalik Buterin Transfers $1.83 Million ETH, Explaining This Move

• Vitalik Buterin moves $1.83 million in ETH
• Galaxy Digital withdraws $233.5 million in ETH

Vitalik Buterin, a co-creator of the second-largest blockchain platform, Ethereum, made a large ETH transfer after he purchased almost one million worth of this popular crypto. Several on-chain data sources have spread the word about this around crypto X (formerly Twitter).

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Vitalik Buterin moves $1.83 million in ETH

Analytics account Lookonchain reported that the Canadian programming prodigy purchased 296.4 Ethereum for approximately $783 million and then transferred 693.9 ETH worth $1,824,973 to Railgun. He also added 341,000 USDC to that transaction.

Railgun is a privacy protocol, which Buterin praised for guarding user privacy and excluding cyber criminals. It utilized zero-knowledge proofs to conduct confidential crypto transfers on the Ethereum chain, unlike Tornado Cash. According to Arkham Intelligence, Buterins net worth stands at at least $552.86 million thanks to his large Ethereum holdings. However, that data was generated in January last year, and by the aforementioned purchase, Buterin proved that he is worth much more than half a billion dollars.

At press time, Ethereum is changing hands at $2,621 per coin.

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Galaxy Digital withdraws $233.5 million in ETH

Earlier today, Lookonchain spread the word about massive Ethereum transfers that took place over the past day. The on-chain data source reported that an anonymous whale (which could have been a financial institution) accumulated a substantial 108,278 ETH for $283 million.

According to Lookonchain, a whale or institution purchased 108,278 ETH ($283 million) through OTC. In the past 12 hours, the Galaxy Digital OTC wallet withdrew 89,000 ETH ($233.5 million) from exchanges and subsequently transferred 108,278 ETH ($283 million) to the whales…