Ethereum co-founder Vitalik Buterin comes to the fore with altcoin projects in his wallet. Buterin’s wallet address is publicly known. That’s why the people behind many new projects send their tokens to Buterin. This is almost an “advertisement” for new projects. Now Buterin’s final salvo against “shitcoins” has resulted in more money being sent to him. Here are the details…
Vitalik Buterin again made a sale
Just a few days ago, as we reported on Kriptokoin.com, the Ethereum developer made moves to sell more than $700,000 worth of tokens previously sent to him, causing the price of the tokens to plummet. Buterin has continued his battle against “shitcoins” ever since. In a small post, Buterin labeled the cryptocurrency Bite (BITE) and most of the other coins discussed on the r/Testingtesting62831 subreddit as “shitcoins that have no cultural or moral value and are likely to be money-losing.”
He stated that he mostly disapproved of these projects. According to PeckShield, BITE was one of the tokens Buterin sold on March 7 during his sales spree, selling 3.4 million BITE for around $9,250. Buterin’s post was likely caused by a large number of posts pushing the BITE token on the subreddit he created in July 2020, which he still moderates. The post prepared Buterin for a wave of trolling, however, other members of the subreddit created many “memes” following this comment.
Shortly after Buterin shared the post, he was even sent 250,000 BITEs. The token does not appear to be listed on many mainstream crypto price monitoring sites, but blockchain records show sales to be around $0.011 per token, making the $250,000 worth of around $2,750 sent to Buterin. Meanwhile, Buterin’s latest warning has negatively impacted the price performance of the meme coin. According to Dexscreener data, the token has dropped 27 percent in the last 24 hours.
Buterin was caught in a similar sales frenzy in 2021.
Meanwhile, several Twitter accounts claiming to be linked to the BITE token and its community called Buterin’s mention “bull”. Just two days ago, the Ethereum co-founder went on a spree of selling a shitcoin, dumped about $700,000 worth of tokens sent to him and exchanged them for Ethereum (ETH). Buterin launched a similar sale in May 2021, selling tokens like Shiba Inu and Dogelon Mars (ELON), causing their prices to drop by 40 percent and 90 percent, respectively. Meanwhile, the University of California San Diego received a $15 million USD Coin (USDC) donation on March 7 from a fund led by Ethereum co-founder Vitalik Buterin.
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