Vitalik Buterin Sells $700K of Tokens, Slams ‘Shitcoins’ in Reddit Thread
• Vitalik Buterin recently sold tokens worth over $700,000.
• Despite this, he mocked shitcoins discussed in a Reddit thread.
• His post spurred trolling from other subreddit users and he was criticized for it.
Vitalik Buterin Sells Tokens Worth Over $700,000
The Ethereum founder Vitalik Buterin has just sold over $700,000 worth of tokens that had been airdropped to him. According to Etherscan, Vitalik’s publicly known wallet address had sold 50 billion MOPS tokens, equating to 1.25 ETH (approximately $2,000) when the transaction was complete. He further cashed out 10 billion CULT tokens for 58 ETH (roughly $91,000) and 500 trillion SHIK tokens for 380 ETH (approximately $600,000). Moreover, according to PeckShield, BITE was one of the tokens he sold during his shitcoin selling frenzy on March 7. He reportedly transferred 3.4 million BITE for around $9,250.
Buterin Dumps Coins Before
It’s not the first time Buterin dumps coins. In May of 2021, his Shiba Inu and Dogelon Mars (ELON) sell-off caused the values of those tokens to plummet by 40% and 90%, respectively.
Buterin Spoke Against Shitcoins After Selling Them
In a post published on March 9 on a small subreddit, Buterin referred to the token Bite (BITE) and most other coins discussed on r/Testingtesting62831 as “shitcoins”. He stated that these cryptocurrencies have “no redeeming cultural or moral value and will probably lose you most of the money you put into them.” It is also possible that Buterin’s message was spurred by the many posts supporting the BITE token on the subreddit which he started in July 2020 and still moderates today.
Buterin Receives Criticism From Subreddit Users
Nevertheless, the post made him a target for a wave of trolling with other users of the subreddit increasing the amount of shilling they did and generating memes. Comment from discussion IndividualLet6519’s comment from discussion “$BITE and most other coins being discussed on this forum are shitcoins have no redeeming cultural or moral value and will probably lose you most of the money you put into them I anti-endorse these projects to greatest extent.” Buterin received a total of 250k BITE shortly after posting tweet he was criticized for The token is not traded on major price monitoring websites Nonetheless blockchain records show that’s where funds went
This article revealed how Vitalik Buterin recently sold tokens worth over 700 thousand dollars but despite this spoke against shitcoins discussed in Reddit thread which sparked criticism from subreddit users who increased amount shilling they did in response along with generating memes However it should be noted that token received by him is not traded major price monitoring websites