Vitalik Buterin moves nearly 1.3 mln STRK: Altcoin reacts

• Vitalik Buterin transferred 1.3 million STRK tokens, sparking speculation and market movement.
• STRK’s price increased by 4.53% following Buterin’s transfer, hinting at a potential rally.

Recently, Ethereum [ETH] co-founder Vitalik Buterin moved 800 ether worth over $2.1 million to a multi-signature wallet, sparking rumors of a possible large-scale selloff.

Vitalik Buterin moves STRK

On the 4th of September, Buterin also unlocked and withdrew 1.268 million Starknet [STRK] tokens, valued at $470,000, from Starknet’s Locked Token Grant contract.

This news was brought to light by Wu Blockcahin’s X post, which noted, 

“Vitalik Buterin currently holds a total of 2.113m STRK, worth about $781,000, which is his most valuable token besides ETH. Vitalik Buterin is one of the early investors in StarkNet.” 

Valued at $854,730 at $0.39 per token, this increase has sparked curiosity about Buterin’s plans.  

STRK has now become Buterin’s second-largest token holding, after Ethereum. Also, back in May, Buterin made a similar transfer of 845,205 STRK tokens, which led to a notable increase in the token’s price.

Impact on STRK token

The recent transfer appears to be causing a similar market reaction. According to the latest CoinMarketCap update, STRK was up by 4.53% in the past 24 hours, trading at $0.3983.

AMBCrypto’s analysis of TradingView data indicated a cautiously bullish sentiment, with the RSI sitting slightly above neutral at 51, hinting at potential upward momentum.

However, with the RSI dipping slightly downward, this bullish outlook remained uncertain.

On a brighter note, the MACD line’s position above the Signal line confirmed the presence of bullish activity.

However, it also suggested that a sustained rally may be on the horizon if STRK surpasses its resistance at $0.43. 

Vitalik Buterin’s other transfer

Before this withdrawal STRK token withdrawal, Vitalik Buterin moved various tokens, including PIKA, ETH, DIMO, and POKT, between his wallets, sparking questions about his future intentions.

Some speculate these transactions indicate another charitable donation, following his past patterns.

Others see these moves as strategic reallocations within his portfolio.

Regardless of the motive, Buterin’s actions fuel curiosity about his broader plans, prompting the market to anticipate further developments.