Buterin Sold All Altcoins In His Portfolio

Vitalik Buterin disposed of most of the low-capital crypto assets in his personal wallet. These altcoins owned by Buterin were usually assets sent to the Ethereum founder’s account for free. According to Etherscan data, Buterin sold 50 billion MOPS tokens for 1.25 ETH, 10 billion CULT tokens for 58 ETH, 500 trillion SHIK tokens for 380 ETH and 3.4 million BITE tokens, which is roughly 5.9 ETH. After these transactions, Vitalik transferred 214 ETH worth $337,000 to EthDev’s wallet.

There were mixed reactions to Vitalik Buterin’s mass token sale. In the comments made on Twitter, it was stated that these sales negatively affected those who invested in low-capital projects, while the Ethereum founder was subjected to criticism. Some people expressed their reactions to the projects as they provided free shipping to Buterin for advertising purposes. For example, the SHIK price became almost worthless after the sale of Vitalik. After the bulk sales, 666 SHIK tokens and up to 10 billion CULT tokens remained in Vitalik’s portfolio. MOPS tokens were seen to be sold completely. Why Vitalik Buterin sells his low-capital cryptocurrencies remains a matter of curiosity. Some think these sales, which have seriously damaged projects, have something to do with Ethereum’s latest testnet, Goerli.

In the latest developments regarding Ethereum, the developers recently announced that the release date of the Shanghai version, which is an important update of the network, has been postponed to April. Goerli, the final testnet before this mainnet update, will go live in mid-March. Ethereum price has been following its sideways trend in low-volume transactions for the last 4 days after the hard sell towards the end of last week. ETH was at the $1,570 border in the morning, up half a point in the last 24 hours. It is seen that the cryptocurrency markets continue in standby mode before Fed Chairman Jerome Powell’s presentation to Congress and the House of Representatives and critical macroeconomic data this week.