Ethereum (ETH) co-founder Vitalik Buterin’s transactions after USD Coin (USDC) lost stability.
The second largest stablecoin in the cryptocurrency market, after the bankruptcy of Silicon Valley Bank (SVB), one of the largest banks in the USA USDCThe loss of dollar stability has mobilized the major players of the sector. One of the names who could not remain indifferent to the events that took place. Vitalic Buterine it happened.
On-chain analytics platform lookonchain According to data provided by Buterin, primarily decentralized exchange (DEX) Uniswap over 500 Ethereumu 150k to Reflexer (RAI) transformed. Next 400 thousand 359 USDC with 150 thousand RAI And 27,179 DAI he bought. According to experts, Vitalik Buterin has re-signed these transactions to the USDC. that he thought would gain performed for.
RAI functions as an algorithmic stablecoin backed by the Ethereum blockchain. Unlike other stablecoins, RAI is decentralized and non-pegged stands out for its structure.
Although some market analysts interpreted Buterin’s move as support for USDC. For what purpose the procedure is done Unknown.