Is Vitalik Buterin Dumping Ethereum? Or Just Keeping Us on Our Toes?
Ethereum co-founder Vitalik Buterin has been stirring the pot again, and not just by tinkering with blockchain protocols. Recently, Vitalik unloaded a cool 5,000 $ETH in August 2024, sending a ripple (pun intended) through the crypto community. The reason? According to Buterin, itâs all for the greater goodâcharity and supporting projects in the Ethereum ecosystem. He claims he hasnât sold any $ETH for personal gains since 2018. So, is this just a noble move or something else entirely?
Of course, Buterin isn't the only one making waves. The Ethereum Foundation has also been unloading $ETH. Since the start of 2024, theyâve sold 2,616 $ETH, raking in around $7.64 million. And let's not forget that massive 35,000 $ETH transaction back in August. It makes you wonderâare they just playing it safe with some âroutine treasury management,â or do they know something we donât?
Despite all these sales, both Buterin and the Foundation insist it's all about funding operations and not signaling doom for Ethereum. But with $ETH prices dipping, some investors might be left scratching their heads. Are these big moves by the Foundation and its mastermind strategic planning, or are they just trying to cash out before the next market hiccup?
Whoâs really holding the bag here? Let me know what you think in the comments!
