Vitalik’s $800,000 ETH Swaps Surge as Ethereum Nears the $2,000 Mark

crypthub

about 3 hours ago

Vitalik Buterin’s Wallet Activity

Arkham flagged a series of large ETH swaps tied to a Gnosis Safe proxy linked to Vitalik Buterin. The transactions occurred in short bursts over several hours, each routed through CoW Protocol’s settlement address. The activity involved moving ether into stablecoins rather than other volatile assets.

Swap Details and Mechanics

Each leg exchanged 23‑45 WETH for stablecoins such as USDTB, GHO and PYUSD, valued between $43k and $84k. Cumulatively, the swaps totaled nearly $800 k worth of ETH. CoW Protocol split the orders to limit price impact, and the use of a multisig safe suggests treasury‑style management.

Ethereum Price Rebound

While the swaps had no obvious immediate effect, ETH hovered around $1,915, rebounding from a higher‑timeframe support zone. Chart analysis shows a double‑bottom formation that broke the short‑term downtrend line inside a descending channel. The move places ETH back near its prior consolidation range, easing downside pressure after a prolonged choppy session.