Vitalik Buterin Moves 2.09 Million STRK Tokens to Binance (BNB) Ahead of Potential Sale

Vitalik Buterin, a cofounder of Ethereum (ETH), has moved a total of 2.09 million Starknet (STRK) tokens to Binance (BNB), the world's largest centralized exchange by volume and user count.

Vitalik Buterin, a cofounder of Ethereum (ETH), has moved a total of 2.09 million Starknet (STRK) tokens to Binance (BNB), according to a transaction that was detected by the on-chain analytics service Onchain Lens on Monday.

The tokens, which are currently valued at around $800,000, might be being sold by Buterin at a loss of $714,000, the analysts noted.

If this is the case, then the ETH creator would have only 15,862 STRK tokens remaining, which would conclude his sales of the L2 asset.

Buterin is a seed investor in Starknet, and the token, along with Ether, was previously among his largest holdings. Last September, he made headlines by unlocking his STRK holdings, which several commentators interpreted as a bearish sign for Starknet.

Compared to its all-time high, STRK lost 90%

Starknet is an EVM-equivalent L2 that sits on top of Ethereum and addresses the L1’s limitations in terms of speed and scaling.

The protocol uses its own programming language, Cairo, to create STARK-provable programs for general computation on L2.

Among the top 100 cryptocurrencies, STRK is performing the worst. The token, which was launched on the mainnet on Feb. 20, 2024, lost around 90% of its value.

Before the recent rally in crypto, it was trading at less than $0.34, which is only marginally higher than the all-time low set in August of this year.