Market enthusiasm results in Vitalik Buterin earning $19m in just one week.
Over the past week, the value of cryptocurrencies held by Vitalik Buterin, the co-founder of Ethereum, has increased by $19 million. According to data from Arkham Intelligence, Buterin’s known crypto wallets went from $561 million to $580 million, marking a growth of almost 3.4%. This surge in value aligns with the rise in the price of major cryptocurrencies like Ethereum and Bitcoin.
The majority of Buterin’s holdings consist of Ethereum, which explains the overall gain. During the same period, Ethereum’s price increased from approximately $2,218 to nearly $2,370, resulting in a 6.6% growth.
Out of the $580 million portfolio, Ethereum is the most valuable, followed by $635,000 of Kyber Network (KNC) and $456,000 of Wrapped Ethereum (WETH). This development follows Buterin’s recent criticism of a proposal to compromise Ethereum’s security in order to enhance the network’s efficiency.
Vitalik Buterin, a Russian-Canadian computer programmer, gained recognition as the co-founder of Ethereum. Born in 1994 in Kolomna, Russia, he moved to Canada with his family at the age of six. Buterin showed early aptitude in math, programming, and economics, and developed an interest in cryptocurrency and blockchain technology as a teenager.
He co-founded Bitcoin Magazine, a prominent publication dedicated to cryptocurrencies, and in 2013, he published the white paper for Ethereum. Buterin argued that Bitcoin needed a scripting language for application development. With Buterin as a co-founder, Ethereum was launched in 2015 after starting development in 2014.
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