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>>On-chain data reveals that Ethereum's founder, Vitalik Buterin, has acquired a significant stake in this alternative cryptocurrency. Find out more about the transaction below.

On-chain data reveals that Ethereum's founder, Vitalik Buterin, has acquired a significant stake in this alternative cryptocurrency. Find out more about the transaction below.

crypthub

1 day ago

Token Reacquisition

Ethereum founder Vitalik Buterin has recently reacquired a substantial amount of Starknet (STRK) tokens after a year without activity. On-chain data reveals Buterin received 6.29 million STRK, valued around $1.01 million. This allocation marks his renewed involvement with the Starknet ecosystem. StarkWare, the developer team, previously confirmed Buterin's early investment in their project.

Early Investment and Allocation

Vitalik Buterin participated in StarkWare’s $6 million seed investment round in January 2018. Starknet functions as a Layer-2 scaling solution built on Ethereum. Analysts suggest this allocation may be part of a plan to unlock Starknet’s potential. The circumstances surrounding this recent allocation remain somewhat unclear.

Market Implications

Last year, Buterin briefly deposited acquired STRK tokens onto Binance, sparking speculation about a possible sale. It is unknown if the newly allocated STRKs will follow a similar pattern. Market observers anticipate this development could potentially influence Starknet’s token price in the short term.