Ethereum Co-founder, Vitalik Buterin sends 400 ETH (or roughly $1.05 million) to a privacy-focused crypto mixer, Railgun. Although the reason for this action is yet unknown, it is generating attention because Ether has outperformed Bitcoin by almost 4% over the past seven days.
Ether is now rebounding after it has experienced losses in recent months. 28% fall has been observed over the past ninety days and by 23% over the previous thirty days in the value of the second largest cryptocurrency.
Vitalik’s Railgun Move Raises Suspicious
As per Arkham data, Vitalik Buterin transmitted 400 Ether to a new address beginning with 0x1810. He moved 1 ETH to the same address yesterday and added 0.998 ETH to the Railgun mixer.
However, Buterin is familiar with using Railgun. He has used it to swift 662 ETH, or about $2 million, during the last ten months. Earlier, one of the co-founders of Ethereum commented that Railgun does a good job of preventing bad actors and protecting users’ anonymity. His persistent usage of Railgun as a guy who is passionate about raising the level of privacy in the cryptocurrency world proves it.
The crypto community keeps tabs on Buterin in this especially after he transferred 500K ETH to an unnamed wallet.. This just in, Vitalik Buterin (https://x.com/VitalikButerin?ref_src=twsrc%5Etfw) added 400 ETH ($1.05M) to the #Railgun pot.
As Vitalik has said before, Railgun is a good solution to safeguard privacy.
He has continuously moved 662 ETH https://x.com/search?q=%24ETH&src=ctag&ref_src=twsrc%5Etfw ($1.91M) through it over the past ten months. https://x.com/hashtag/Railgun?src=hash&ref_src=twsrc%5Etfw
August 19, 2024–Spot On Chain (@spotonchain)
The recent transaction took place right after Ether posted a little weekly, and ETH’s price decreased somewhat. At present, the value of the second largest crypto is approximately $2,619.It has also committed 45% growth in the 24-hour trade volume to $10. 2 billion.
The latest drop is consistent with a net weekly withdrawal from Ethereum spot ETFs of over $14 million. Fidelity’s FETH and BlackRock’s ETH report inflows of $25 million and $76 million, respectively. Grayscale’s $118 million loss from ETHE is still bleeding.
ETH Co-founder Registers New Domain
Vitalik Buterin is back in action in the crypto space. He recently paid 1000 ETH (approximately USD 2700) for registration of the new domain which will be “dacc. eth” with the help of ENS. this area is closely related to his support of “defensive accelerationism”.
In 2023 a post in his blog discussed d/acc as his concept, he prepared for such and advocated a balanced approach to AI advancement. The idea has elements of augmentation, Artificial Intelligence, and collaboration of man and machine. He has said that if AI is given the wrong application it is capable of destroying humankind.
The co-founders of Ether, Vincent Weisser, and Skylar Wraver, are scheduled to talk about d/acc at an X Space event on August 22. Investors in digital assistance are eagerly awaiting this conversation.
