Ethereum’s Vitalik Buterin Shuffles USDC Funds, Likely Reason

Vitalik Buterin, the cofounder of Ethereum, the second-largest cryptocurrency by market capitalization, has recently made a significant transfer of USD Coin (USDC), a stablecoin pegged to the U.S. dollar.

According to PeckShield Alert, the Vitalik Buterin-labeled address made a move of 3,300 USDC in the early hours of today.

The reason for the transfer is not far-fetched: the Ethereum cofounder was merely reshuffling funds as the said 3,300 USDC were moved to a new address.

The Ethereum price is dipping alongside the rest of the crypto market, down 5.71% in the last 24 hours to $2,246. The crypto market witnessed a slump after speculations arose about MatrixPort’s bearish prediction for Bitcoin spot ETF approval.

Amid the current slump seen on the ETH price, crypto analyst Michael van de Poppe believes that Ethereum is still showing momentum but has a big gap to traverse to be at the same level as Bitcoin. Ethereum might see a bit of consolidation before continuing toward $3,000–$3,500 during Q1, 2024.

Expectations for Ethereum in 2024

Starting with the Dencun hard fork, 2024 is shaping up to be an exciting year for the Ethereum network.

At the end of 2023, Ethereum cofounder Vitalik Buterin published the Ethereum roadmap going forward, conceding that there are only small differences from the previous year.

Buterin stated in a series of posts on X (previously Twitter) that Ethereum’s sustained focus in 2024 will be on six essential components. Buterin expounded on these six parts — Merge, Surge, Scourge, Verge, Purge and Splurge — in a thorough chart with commentaries and graphics.

Buterin already indicated his intention to revive the original vision of the “cypherpunk” revolution for the Ethereum blockchain, as previously reported.