Vitalik Buterin Moves $1.05M into Railgun as Ethereum’s Daily Volume Surges

• Vitalik Buterin has moved 662 ETH worth $1.91M to Railgun in 2024, emphasizing his ongoing support for privacy-focused tools.
• Buterin’s $1.05M Railgun transfer highlights his shift from Tornado Cash amid regulatory scrutiny and privacy challenges.
• Buterin’s d/acc philosophy contrasts with e/acc, advocating for decentralized, cautious technological progress over unchecked acceleration.

Ethereum co-founder Vitalik Buterin has recently invested 400 ETH, valued at $1.05 million, into Railgun, a privacy-focused cryptocurrency mixer. Ethereum, currently trading above $2,600, has seen its daily trading volume exceed $10 billion, marking a 35% increase from the previous day. This notable transaction highlights Buterin’s ongoing commitment to privacy technology within the cryptocurrency space.

Buterin’s Continued Support for Privacy Technologies

This recent transfer is not Buterin’s first interaction with Railgun. The Ethereum co-founder has repeatedly used this privacy-focused mixer over the past 10 months. To date, Buterin has moved a total of 662 ETH, valued at $1.91 million, to Railgun in 2024 alone. This pattern highlights his steadfast support for privacy-enhancing tools in the crypto market.

Previously, Buterin advocated for privacy tools like Tornado Cash. However, following regulatory scrutiny and legal challenges faced by Tornado Cash, Buterin transitioned to Railgun. This shift reflects his continued dedication to preserving user privacy in the face of regulatory field.

In addition to his recent activities with Railgun, Buterin has been active in cryptocurrency. Earlier this month, he transferred $8 million in ETH to a new multi-signature wallet. His philanthropic efforts extend beyond Ethereum, as he has donated various altcoins received from crypto projects.

Market Impact

On the technology front, Buterin’s latest philosophical contribution, dubbed d/acc, proposes a balanced approach to technological advancement. Introduced in his November 2023 blog post, d/acc advocates for human-AI collaboration over unrestricted AI development. 

This contrasts with the e/acc philosophy, which promotes unchecked technological acceleration. Buterin’s approach emphasizes decentralization and cautious progress in technological development.

Buterin’s d/acc philosophy seeks to avoid centralization and encourages a democratic approach to technology. It promotes resilience in infrastructure, pandemic preparedness, cyber defense, and combating misinformation. This cautious stance aims to prevent a concentration of power and ensure technology serves a broad societal good.

Meanwhile, the crypto market has seen a surge in memecoins related to Buterin’s d/acc concept. These tokens, some of which have spiked by 400%, reflect the ongoing interest and speculative activity within the crypto.