Vitalik Buterin Sells 19,318 ETH Worth $38.7 Million
Ethereum co-founder Vitalik Buterin sold 19,268 ETH for $38.77 million, converting proceeds into stablecoins such as USDtb, GHO, EURC, PYUSD, and LUSD within the DeFi ecosystem.
ETH
USDTB
PYUSD
Summary
Ethereum co-founder Vitalik Buterin sold 19,268 ETH over 23 days for approximately $38.77 million at an average price of $2,012, surpassing his earlier plan to sell 16,384 ETH. The proceeds were converted into various stablecoins within Ethereum’s decentralized finance ecosystem, including USDtb, GHO, EURC, PYUSD, and LUSD.
Terms & Concepts
- ETH: The native cryptocurrency of the Ethereum blockchain, used for transactions, smart contracts, and decentralized applications.
- Stablecoin: A type of cryptocurrency pegged to a stable asset, such as the US dollar or euro, to minimize price volatility.
- DeFi: Short for decentralized finance, it refers to blockchain-based financial services that operate without traditional intermediaries.