Vitalik Buterin Mocks Shitcoins After Selling $700K Worth of Tokens
• Vitalik Buterin recently sold over $700,000 worth of various tokens.
• He made a post mocking shitcoins on Reddit which sparked a wave of trolling and shilling.
• Despite this, he was given 250,000 BITE tokens shortly after posting the tweet he was criticized for.
Vitalik Buterin’s Token Sell-off
Vitalik Buterin recently sold over $700,000 worth of various tokens, according to Etherscan and PeckShield. This included 50 billion MOPS tokens equating to 1.25 ETH (approximately $2,000), 10 billion CULT tokens for 58 ETH (roughly $91,000) and 500 trillion SHIK tokens for 380 ETH (approximately $600,000). Furthermore, he reportedly transferred 3.4 million BITE for around $9,250. This is not the first time that Buterin has dumped coins as in May 2021 his Shiba Inu and Dogelon Mars sell-offs caused the values of those tokens to plummet by 40% and 90%, respectively.
Buterin’s Reddit Post
In a post published on March 9 on a small subreddit called Testingtesting62831, 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.” His post spurred a wave of trolling with other users increasing their shilling efforts as well as generating memes targeting him.
Receiving BITE Tokens
Despite criticism from his Reddit post regarding shitcoins and other cryptocurrencies, Buterin received a total of 250,000 BITE shortly after posting it. The token is not traded on major price monitoring websites but blockchain records show that it was sent directly to his wallet address from an anonymous sender on March 7th at 8:50 pm UTC+8 timezone.
Outrage Against Shitcoiners
Buterin’s actions are seen by some people as taking a stand against “shitcoiners” who are ruining the reputation of blockchain technology due to their attempts to make quick profits off low-quality projects or hype up worthless digital assets with no real purpose beyond speculation or scams. If nothing else this incident shows that even when cashing out large amounts himself Buterin still takes an outspoken stance against anything he perceives as damaging crypto communities or ecosystems in general.
Overall it seems clear that despite selling hundreds of thousands worth of different coins recently Vitalik Buterin remains staunchly opposed to anything perceived as potentially harmful or speculative within the crypto space such as shitcoins or hype driven projects with no real purpose behind them beyond making money quickly at investors expense .