The recent move of 30 ETH to the network’s Base layer by Ethereum co-founder Vitalik Buterin has raised concern among the people.Vitalik is said to have converted the 30 ETH for 100,000 USDC.This is as per the report recorded by PeckShieldAlert.
The Base layer is said to deal with transactions, smart contracts, and also helps in maintaining general security. The fact that Vitalik had transferred a huge amount of ETH in a more secure place is still questionable, not forgetting that he has also converted the ETH to USDC which is a stablecoin.
He recently stated that the trades might not necessarily represent personal investment decisions, even though the precise goal is still unknown. They might entail donating to charities or redistributing funds.
Large transactions on the Base layer can impact market dynamics. They may indicate confidence or strategic positioning within the Ethereum ecosystem.
Beyond Ethereum, Buterin is known for his philanthropic efforts and support for innovative blockchain projects. This includes his $1 billion SHIB token donation to India’s Covid relief efforts in 2021.
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