Vitalik Buterin deposits 2.09M STRK on Binance, realizing a $714K loss

Ethereum’s co-founder, Vitalik Buterin deposited 2.09 million STRK tokens on Binance, incurring a loss of $714,000. He got the tokens a few months ago and were initially worth about $1.51 million. Vitalik has been a high-profile public investor in StarkNet since investing in the protocol’s seed round in 2018.

Analysts speculate that Buterin’s STRK transfers indicate his preparation for regulatory shifts

Vitalik moved over 2 million STRK tokens valued at approximately $799,000 to Binance. Some analysts have claimed that he could be preparing to cash in or reallocate his money in preparation for regulatory changes expected under a new presidency.

Besides this, on September 5, Vitalik also unlocked 2.1 million STRK tokens in two seed rounds. The criticism here was that the founder transferred those tokens from his Ethereum wallet to a new one. 

Some even suggested, then, that Vitalik was considering selling off his tokens, which they predicted would take a toll on STRK’s value. Commenting on the same, an investor identified as Kube (@9xix113) talked about Vitalik’s transfer and even projected that the STRK token prices would slump.

Starknet’s STRK is currently trading at $0.3804, close to a 9% price rise in the last 24 hours. Moreover, its 24-hour trading volume stands at $76.16 million, an 88% rise in the 24 hours.

Starknet set a new TPS record by October’s end

In a post on X on October 29, Starknet announced its new transactions per second high. The Ethereum L2 network achieved a record peak of 857 TPS on its main net,  up from 503 TPS. Their stress test averaged 127.5 TPS  in just 24 hours.

Starknet’s CEO Eli Ben-Sasson even commented:

This is not a narrow story of ‘success on Starknet.’ It’s an illustration that scaling on the blockchain is taking big leaps forward and that the rails are getting ready for mass use.

~Eli Ben-Sasson

Eli further said they “have many more developments in the pipeline that will enable Starknet’s TPS to reach new heights, including the introduction of the STWO prover in early 2025.”