Bitcoin and altcoins

Vitalik Buterin sells and dumps the price of a token?

Ethereum founder Vitalik Buterin received tokens via an airdrop and dumped the price of the famous token by 60% by selling them.

In the market, many useless coins, created with the sole purpose of capturing money from “shitcoins” or unsuspecting investors, are called “shitcoins*”. In reality, the vast majority of them are scams, or fraudulent financial “schemes”.

Vitalik Buterin often receives unwanted tokens sent to him.

A history of his wallet shows that trillions of tokens have been sent to him through various projects, all hoping to capitalize on the founder’s popularity and draw more attention to their project.

Like the case of SHIB, which two years earlier, Ryoshi delivered half of the outstanding SHIB to Vitalik.

Why send tokens to Vitalik?

Many projects are hoping to gain traction by sending tokens to cryptocurrency icons like Vitalik or Changpeng Zhao of Binance.
The only goal is to get spotted by these big influencers and make the token in question known.

However, the founder of Ehereum has already made it known once that he was unhappy with these “fraudulent” tokens that continue to appear on the network, but especially the fact that they are sent to his wallet.

These tokens being sent to him have increased significantly after the success of another meme coin, Shiba Inu.

In 2021, Buterin received 50% of the total SHIB offer from the anonymous developers of Shiba Inu to remove these coins from circulation. Buterin responded by getting rid of 90% of these tokens, worth more than $32.5 billion at the time of SHIB’s price peak.

Pieceofshit was unaware of this warning perhaps or does he have another agenda?

“Pieceofshit” gave Vitalik the airdrop 60 days ago.

But Vitalik sold everything?

The swap took place at 02:56 am Brasília time (BRT), in two transactions of 12.5 trillion SHIT each. Starting from the personal account vitalik.eth and passing through the decentralized exchange uniswap (UNI). Vitalik Buterin earned over $33,000 from the massive sale of the ShitCoin (SHIT) token. The dumping of 25 trillion units caused the price of the asset to drop by more than 60%.

However, it’s still unclear why Vitalik kept the tokens for 60 days before getting rid of them? What do you think about it?


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