Buterin Sells 25 Trillion in This Meme Coin: Price Crashed!

  • Ethereum founder Vitalic Buterine, sold 25 trillion meme coins bought from an unidentified person, as a result of this sale, the price of the asset fell by 60 percent. The total amount of tokens sold by Buterin through Uniswap is estimated at 33,475 USDC.

before too KoinFinance As stated by the 28-year-old billionaire, the creator of the meme coin had to accept half of the Shiba Inu supply as a gift, albeit unintentionally, and the Ethereum founder, who constantly said that such coins were sent, expressed his discomfort about this issue.

However, a while ago, the creator of Shitcoin gave Buterin a large sum of money. shiba inu sent tokens. 25 trillion worth only $33,000 in the hands of the ETH creator, who burned 90% of the meme coin worth about $6 billion Shitcoin (SHIT) was left. Turns out Buterin eventually sold this stash.

According to data from PeckShieldAlert, the tokens were transferred to vitalik.eth owned by Ethereum’s founder two months ago. Many Ethereum-based projects continue to try to stand out by transferring some of their tokens to Vitalik Buterin, hoping to get noticed by the crypto community.

While it is not known why Buterin held these tokens for so long, which was sent as an airdrop about two months ago, it is thought that on the eve of Ethereum’s transition to PoS, the blockchain creator may have decided to clean up his portfolio.

The ETH founder, who previously asked them not to send him any tokens without his consent, caused a massive 60 percent collapse in the price of the meme coin after this big sale.

Recovering from this great crash ShitCoin (SHIT)It is trading at $0.00000014 at the time of writing, down nearly 30 percent in the last 24 hours.

ShitCoin

Ethereum creator is pretty busy right now

Other multi-billion-dollar developments continue to happen in Ethereum’s backyard as Vitalik tries to clear his portfolio of various questionable assets. Among these developments, another possible hard fork of the Ethereum network looks like it could be a huge headache for Buterin.

As a result of the blockchain’s rejection of the Proof-of-Work (PoW) consensus, miners have come to realize that expensive ETH mining equipment will become obsolete and the resources invested in the business may never pay off. Realizing that the revenues would instantly drop to zero, the miners concluded that they would be completely excluded from the ecosystem.

At the same time, Chandler Guo, one of the biggest players in the Chinese mining ecosystem, said that he plans to continue mining on the Ethereum PoW chain and is preparing a new network hard fork with the transition to the new blockchain ETHPoW. Therefore, in addition to the already forked Ethereum Classic, another branch can be added to the ecosystem that does not seem beneficial to the overall integrity of Ethereum.

You can follow the current price action here.

Disclaimer: What is written here is not investment advice. Cryptocurrency investments are high-risk investments. Every investment decision is under the individual’s own responsibility. Finally, Koinfinans and the author of this content cannot be held responsible for personal investment decisions.


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