Lookonchain shared that the vitalik.eth wallet was the first to move 200 Ethereum (worth about $400,000) to the U.S.-based Kraken exchange. This transaction caught attention in the crypto community as Vitalik Buterin, the co-founder of Ethereum, was involved. Shortly after Buterin's transaction, the Ethereum Foundation followed suit but on a much larger scale, shifting 15,000 ETH to Kraken. When combined with Buterin's crypto, this amounted to a staggering $40,000,000 USD in fiat currency. The significance of these transactions was highlighted by the popular crypto tracker, Whale Alert.
Adding to the developments, on Friday, the Santiment data aggregator reported that Ethereum (ETH) had reached an eight-month high in terms of flows to crypto exchanges. The analytics team at Santiment believes that this influx of ETH to exchanges may be an indication of an upcoming increase in market volatility, similar to what was observed after the collapse of FTX in early November and the Merge in mid-September. In a subsequent tweet, Santiment noted that while the "sky-high active deposits" of ETH to exchanges are the highest since November of the previous year, ETH is now showing signs of decoupling from BTC (Bitcoin) and potentially poised to surpass the $4,700 level.
