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Ethereum co-founder Vitalik Buterin has transferred 693.91 ETH, valued at $1.83 million, along with 340,931 USDC, to the privacy-focused protocol Railgun. The transaction was executed through an intermediary wallet, adding a layer of obfuscation. Of the USDC transferred, $240,931 came from the Moloch Foundation, a group that funds Ethereum development.
- Vitalik Buterin transferred 693.91 ETH and $340,931 USDC to privacy protocol Railgun.
- BlackRock purchased 29,580 ETH worth $77.1M, following a previous $48.4M ETH buy.
Ethereum co-founder Vitalik Buterin has transferred 693.91 ETH, valued at $1.83 million, along with 340,931 USDC, to the privacy-focused protocol Railgun. The transaction was executed through an intermediary wallet, adding a layer of obfuscation. Of the USDC transferred, $240,931 came from the Moloch Foundation, a group that funds Ethereum development.
Though Buterin has not issued a statement, the move aligns with his long-standing advocacy for privacy. He has called privacy “normal” and argued that users should not be tracked for simple transfers. Railgun enables private transactions while integrating mechanisms to deter bad actors, making it a fitting choice for Buterin’s stance.
Ethereum’s (ETH) Institutional Surge
At the same time, significant institutional activity is unfolding. BlackRock purchased 29,580 ETH worth $77.1 million, following a prior buy of 19,070 ETH for $48.4 million. These acquisitions bring its total ETH exposure to over $125 million. This marks a shift from its Bitcoin-heavy focus and suggests growing confidence in Ethereum’s long-term utility.
Meanwhile, Consensys CEO Joe Lubin revealed discussions with sovereign wealth funds and global banks. These talks involve building financial infrastructure using Ethereum’s Layer-1 and Layer-2 networks. While no direct ETH purchases have occurred yet, institutional adoption appears imminent.
Further, Galaxy Digital’s OTC desk moved 89,000 ETH, about $233.5 million, to a second wallet. That wallet now holds 139,476 ETH, worth $365 million. This move signals strong institutional holding patterns, especially during Ethereum’s current accumulation phase.
Technically, Ethereum is showing bullish signs. Traders accumulated long positions around $2,500–$2,600. If ETH breaks above $2,708, over $300 million in short positions could liquidate. This would drive prices higher and trigger broader bullish sentiment.
Wyckoff analysis suggests Ethereum completed its Spring and Test phases. Breaking past $3,000 could open paths toward $3,700 and even $5,600. With institutional momentum rising, Ethereum appears positioned for sustained growth.
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