In the latest development, Ethereum co-founder Vitalik Buterin has transferred 400 ETH worth $1.05 million to crypto mixer Railgun. While the reason behind this transfer is not yet known, the crypto industry is watching the development with interest as the ETH price hovers around the $2,600 level. This is not the first time Buterin has moved his ETH to privacy-focused mixer Railgun. The Ethereum co-founder has been a strong advocate of privacy tools and has previously highlighted Railgun as an effective method for protecting users’ privacy.
The transfer of the Ethereum inventor attracted attention
Ethereum co-founder Vitalik Buterin has sparked a new debate in the crypto world by transferring 400 ETH worth $1 million to privacy-focused mixing platform Railgun. This isn’t Buterin’s last transfer to Railgun; the Ethereum titular father has previously shown his support for user privacy by using the platform many times. Over the past 10 months, Buterin has transferred a total of 662 ETH worth $1.91 million to Railgun. This latest transfer once again demonstrates his support for privacy-focused technologies in the cryptocurrency ecosystem. This development comes after Buterin transferred $500,000 worth of ETH to an unknown address last week.
While Ethereum has made significant strides as an open-source blockchain, user privacy remains a critical issue. Buterin is also making an effort to draw attention to this issue. Buterin, who has supported platforms such as Tornado Cash in the past, turned to Railgun after problems with the platform. Buterin’s contributions to the crypto world are not limited to Ethereum. In recent months, Buterin has transferred $8 million worth of ETH to a new multi-signature wallet, and has also donated other altcoins gifted to him by various crypto projects.
ETH price fluctuates
On the other hand, the Ethereum price continues to fluctuate around $2600. Daily transaction volume increased by 44 percent to over $10 billion. The recent sale of $60 million worth of ETH by whales has drawn attention. Whether Ethereum will maintain its $2600 support and rise to $3000 and above will be clear in the coming days.
Buterin’s repeated reliance on Railgun is expected to increase interest in privacy-focused cryptocurrency projects. However, experts warn that such platforms could also be used for illegal activities. The balance between privacy and transparency is critical for the future of the cryptocurrency world.
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