Ethereum’s Vitalik Buterin shuffling USDC funds, likely reason according to U.Today

Ethereum’s Vitalik Buterin shuffles USDC funds, likely reason

U.Today – , the co-founder of , the second largest cryptocurrency by market cap, recently made a significant transfer of (USDC), a stablecoin pegged to the US dollar.

According to , the address tagged by Vitalik Buterin made a move of 3,300 USDC in the early hours of today.

The reason for the transfer is not far-fetched: the Ethereum co-founder was simply reorganizing funds when said 3,300 USDC was moved to a new address.

It is falling along with the rest of the crypto market, down 5.71% in the last 24 hours to $2,246. The cryptocurrency market witnessed a drop after speculation arose regarding MatrixPort’s bearish prediction for spot ETF approval.

Amid the current drop seen in the price of ETH, the crypto analyst believes that Ethereum is still showing momentum but has a big gap to cross to be on the same level as Bitcoin. Ethereum could see some consolidation before continuing towards $3000-$3500 during the first quarter of 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 published the roadmap for Ethereum going forward, admitting that there are only minor differences from the previous year.

Buterin stated in a series of posts on X (formerly Twitter) that Ethereum’s sustained focus in 2024 will be on six essential components. Buterin laid out these six parts (Merge, Surge, Scourge, Verge, Purge, and Splurge) in a box complete with commentary and graphics.

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

This article was originally published on U.Today.

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