• Vitalik Buterin, the Ethereum founder, recently sold tokens worth over $700,000.
• He then mocked shitcoins in a Reddit thread and was targeted with trolling for doing so.
• Buterin received 250,000 BITE after his tweet despite not being traded on major price monitoring websites.
Vitalik Buterin’s Token Sells
Ethereum founder Vitalik Buterin recently sold tokens worth over $700,000 from his publicly known wallet address. The transaction included 50 billion MOPS tokens equating to 1.25 ETH (approximately $2,000), 10 billion CULT tokens for 58 ETH (roughly $91,000) and 500 trillion SHIK tokens for 380 ETH (approximately $600,000). Moreover, he transferred 3.4 million BITE for around $9,250 according to PeckShield.
In a post published on March 9 on a small subreddit started by him in July 2020 and still moderated by him today, he referred to the token Bite (BITE) and most other coins discussed as „shitcoins“ with „no redeeming cultural or moral value“ that would „probably lose you most of the money you put into them“. This post made him a target for a wave of trolling from other users of the subreddit who increased their shilling and generated memes in response.
Receiving BITE Tokens
Despite not being traded on major price monitoring websites, Buterin received 250,000 BITE shortly after posting his tweet despite the criticism he received for it.
This isn’t the first time that Buterin has dumped coins as back in May 2021 his Shiba Inu and Dogelon Mars sell-off caused their values to plummet by 40% and 90%, respectively.
Buterin’s message against shitcoins highlights his stance against projects without any real value or use case which may lead people to potentially lose all their money invested in these cryptocurrencies. As such it is important to do research before investing in any project whether it be crypto related or not as there are many projects out there claiming to provide great returns but at the end of day only some will actually deliver on those promises