Vitalik Buterin’s Railgun transfer underscores his privacy advocacy as Ethereum gradually recovers from its steep March 2025 lows.
Ethereum trades near $2,175 after rebounding from $1,400, while Buterin’s actions signal deepening focus on decentralized privacy.
Market watchers eye ETH's $2,000 support and $2,400 resistance as Buterin's transfer highlights continued resistance to blockchain surveillance.
Ethereum co-founder Vitalik Buterin made headlines after moving 693.9 ETH and over $340,000 USDC to privacy protocol Railgun. The transaction followed a 205.52 ETH purchase worth $544,000. It also involved funds from the Moloch Foundation, which backs Ethereum’s development. Buterin routed the transfer through a middle wallet before it reached Railgun. The move sparked curiosity, especially given Buterin's history of advocating financial privacy in decentralized networks. Besides, the action echoed his public stance on resisting surveillance in blockchain.
Notably, Railgun allows private token transfers while maintaining compliance standards. It offers privacy without inviting misuse—a balance Buterin consistently supports. Consequently, this transfer was seen as more than just a routine shuffle. It aligned closely with ongoing regulatory crackdowns on privacy tools like Tornado Cash. Moreover, Buterin’s action highlights a commitment to privacy solutions that uphold responsible decentralization. Observers quickly pointed out that Buterin left behind only minor tokens like PEOPLE and PEPECOIN in the wallet.
Market Rebounds Amid Buterin’s Strategic Move
While Buterin made privacy-centric moves, Ethereum’s market performance entered a recovery phase after months of volatility. ETH began July 2024 trading at around $3,800 before a strong downturn hit. By August, price levels plunged to nearly $3,000. However, September saw the start of a bounce-back, with ETH finding higher lows throughout October. November delivered a breakout above $3,200, pushing prices toward $4,200 by year-end.
Source: XO
December brought volatility. Sharp pullbacks and heavy resistance between $3,600 and $4,200 limited upward traction. Additionally, early 2025 saw sell-offs, dropping ETH below the $2,800 support line. March witnessed a dramatic fall to $1,400, marking the cycle’s low. However, recovery followed fast as April and May posted solid gains. Prices rose back above $2,000, showing buyers stepping back in.
Critical Levels Define June’s Trajectory
Currently, ETH trades at $2,175. Key support remains at $2,000. Resistance stands around $2,400. Consequently, traders remain cautious as range conditions persist. Volume metrics reveal consistent activity, supporting healthy market interest. According to Trader XO, the current range may last several weeks.
Hence, traders should stay patient. Breakouts could trigger altcoin rallies, while corrections may offer strong entry points. Moreover, Ethereum remains the benchmark for censorship resistance and security—even as Bitcoin dominates simplicity and infrastructure.
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