In a recent development, Vitalik Buterin, the co-founder of Ethereum (ETH), initiated the transfer of 800 ether valued at over $2.1 million to a multi-signature wallet, sparking speculations of a potential extensive sell-off.
Vitalik Buterin’s STRK Transaction
On September 4th, Buterin executed the unlocking and withdrawal of 1.268 million Starknet (STRK) tokens, worth $470,000, from Starknet’s Locked Token Grant contract.
This information was disclosed in a post by Wu Blockchain, highlighting that:
“Vitalik Buterin presently possesses a total of 2.113m STRK, equivalent to approximately $781,000, making it his second most valuable token after ETH. Buterin is among the initial investors in StarkNet.”
With each token priced at $0.39, the total value of Buterin’s holding surged to $854,730, prompting intrigue about his future strategies.
STRK now stands as Buterin’s second-largest token holding, succeeding Ethereum. In a similar scenario back in May, Buterin’s transfer of 845,205 STRK tokens notably impacted the token’s price.
Impact on STRK Token
The recent transfer is seemingly causing a comparable market reaction. According to the latest data on CoinMarketCap, STRK witnessed a 4.53% increase in the past 24 hours, reaching a trading value of $0.3983.
An evaluation of TradingView data by CryptoCrypto indicated a cautiously optimistic sentiment, with the Relative Strength Index (RSI) slightly above the neutral threshold at 51, indicating the potential for an upward shift.
Despite a minor dip in the RSI, the bullish sentiment persisted uncertainly. However, the position of the Moving Average Convergence Divergence (MACD) line over the Signal line asserted the presence of bullish movements, suggesting a sustained uptrend might be impending if STRK surpasses the resistance level at $0.43.
Another Transfer by Vitalik Buterin
Prior to the STRK withdrawal, Buterin transferred various tokens like PIKA, ETH, DIMO, and POKT among his wallets, leading to speculations regarding his future intentions.
Some view these transactions as potential indicators of an upcoming charitable donation, aligning with his historical patterns, while others interpret them as strategic reallocations within his portfolio.
Irrespective of the underlying motive, Buterin’s maneuvers have heightened curiosity about his overarching strategies, setting the stage for further market anticipations.