Blockchain monitoring platform Onchain Lens reports that a wallet address labeled 0xD04 — previously linked to Ethereum co-founder Vitalik Buterin — has just transferred 7,000 ETH (approximately $11.06 million at current prices) to a fresh address.
Historical Pattern: Transfers to New Address Followed by CEX Deposits
A review of the wallet's on-chain history reveals a recurring behavioral pattern. Previously, the same wallet moved 1,300 ETH (valued at around $31.6 million at the time) to a new address, and shortly thereafter those funds were deposited into Paxos (now Paxos Trust). Analysts widely interpret this as a preparatory step before routing funds to a centralized exchange (CEX). The latest 7,000 ETH transfer fits that pattern exactly, suggesting the destination address will soon funnel the assets to an exchange wallet.
Current Holdings and Market Implications
After this transaction, the 0xD04 wallet still holds 20,001 ETH, worth approximately $31.6 million. Given its association with Vitalik, any large movement triggers community attention. On-chain data indicates this address has been accumulating ETH recently, and the outflow may represent a position adjustment or a prelude to liquidation. For whale-tracking traders, if these ETH ultimately enter exchange order books, it could exert short-term bearish pressure on ETH price.