Last week, Vitalik Buterin received the highest “KOL mind share” on Crypto X, becoming a leading voice amid growing criticism of the Ethereum network and its foundation.
Buterin, known for his technical insights and open communication style, outlined Ethereum’s vision at X while responding to critics who have questioned the Ethereum Foundation’s strategy and its impact on the blockchain’s growth trajectory.
He provided insights into the continued development of the ecosystem and highlighted strategic priorities for enhancing network robustness and interoperability.
Buterin defends Ethereum Foundation strategy in the face of growing criticism
Andy, host of the cryptocurrency show The Rollup, cited data from Kaito AI showing Buterin is in “wartime mode,” with top KOLs at 1.69% and Helius Labs CEO Mert Mumtaz at 1.18%.
In response to criticism of the Ethereum Foundation’s routine ether (ETH) sales, Buterin explained to X that these sales sustain Ethereum’s developer and researcher environment, as well as the network’s proof-of-stake mechanism.
He stressed that this enables Ethereum to provide transaction finality in less than 30 seconds at low cost, with strong zero-knowledge proof privacy features, and has maintained stable uptime since 2016, and implored critics to “show some respect.”
When asked why the Ethereum Foundation doesn’t stake all of its ether and use the proceeds to cover costs, but instead sells it, Buterin explained that they want to avoid being forced to make an “official choice” in the event of a contentious hard fork. However, he noted that the Ethereum Foundation is exploring other ways to participate in staking, such as issuing grants with staked ether, allowing grant recipients to control withdrawal schedules and keep rewards. In addition, he suggested handing over the Ethereum Foundation’s staking obligations to other companies.
Buterin speaks at X, emphasizes Ethereum’s technical roadmap
As Ethereum FUD continues to spread, Buterin has been increasingly critical of X recently. Discussions about Ether’s performance also involve a comparative analysis of it with Bitcoin and Solana. The network’s poor price performance compared to both of these coins has led to a negative attitude. This is due to Ether’s Layer 2 expansion plans and the resulting lower base layer revenue.
Additionally, another tweet refuted the idea that Ethereum’s utility is declining, stating that the network has achieved hundreds of billions of dollars in total value locked (TVL) since its launch.
Buterin recently promoted Ethereum’s technical roadmap and provided his observations and thoughts on how the “Merge,” “Surge,” “Disaster,” “Edge,” and “Purge” phases could impact Ethereum’s future.
On October 21, Ethereum encountered resistance at its 200-day moving average near $2,778 and plunged 11.87% in the following five days before finding support at an ascending trendline (connecting successive lows with the trendline since early September). As of Monday, Ethereum is trading slightly lower at around $2,490.
The article is for reference only and does not constitute investment advice.
