The total value of cryptocurrencies held by Ethereum co-founder Vitalik Buterin has risen by $19 million over the past week amid a broader resurgence in digital asset markets.
Data provided from blockchain analysis firm Arkham Intelligence shows that the balance of Buterin's well-known crypto wallets increased from $561 million on December 26 to $580 million on January 2, an increase of almost 3.4%. The gains coincide with a rise in the price of Ethereum (ETH) and other major cryptocurrencies like Bitcoin (btc).
Buterin's holdings are dominated by Ethereum, which explains the gain. Ethereum rose from around $2,218 to almost $2,370 during the same period, increasing around 6.6%.
Ethereum is the only part of this $580 million portfolio worth millions, followed by $635,000 of Kyber Network (KNC) and $456,000 of Wrapped Ethereum (WETH). The development follows recent criticism from Buterin for proposing Cut Ethereum security to increase network efficiency.
Vitalik Buterin is a Russian-Canadian computer programmer best known as the co-founder of Ethereum. He was born in 1994 in Kolomna, Russia, and moved with his family to Canada when he was six years old. As a child, Buterin showed an aptitude for mathematics, programming, and economics. He first became interested in cryptocurrencies and blockchain technology when he was a teenager.
Buterin co-founded Bitcoin Magazine, one of the first serious publications dedicated to cryptocurrencies, and in 2013, Buterin published the Ethereum white paper. He argued that Bitcoin needed a programming language for application development. Ethereum launched in 2015 after beginning development in 2014 with Buterin as a co-founder.
