Ethereum co-founder Vitalik Buterin has been widely criticized for his frequent selling of Ethereum. According to data, he transferred 3,000 ETH (worth about $8.04 million at the time) to a multi-signature wallet on August 9. Then, on August 30, he transferred another 800 ETH to the multi-signature wallet, worth about $2.01 million. Afterwards, the multi-signature wallet exchanged 190 of the ETH for 477,000 USDC. $BTC

Three years ago, Vitalik said that he held 325,000 ETH at the time. Based on the average price of $4,500 at the time, the total value of these ETH reached $1.46 billion. However, there are only 240,000 ETH (about $592 million) left in his address, which means that he has reduced 85,000 ETH (about $209 million) in three years.

In US dollar terms, the value of his holdings shrank by 59.452%.

As the price of Ethereum fell below $2,500 and dropped 20% in the past month, with its market share hitting new lows, Vitalik Buterin's selling of Ethereum caused dissatisfaction among many cryptocurrency communities. Some people criticized that as the founder of Ethereum, Vitalik Buterin not only did not publicly support Ethereum, but instead sold a large amount of Ethereum for arbitrage, which was very undesirable.

However, Vitalik Buterin's selling behavior is for charity, not for profit. What do you think of Vitalik Buterin's behavior? Does it indicate that Ethereum may sink? $ETH