Ethereum founder Vitalik Buterin sold 25 trillion SHIT received from an unidentified prankster. The total amount of tokens dumped by Buterin through Uniswap is estimated at 33,475 USDC. As a result, the price of the asset plummeted by 60%.
According to PeckShieldAlert, the tokens were transferred to the address vitalik.eth, owned by the founder of Ethereum, two months ago. Many Ethereum-based projects transfer some of their tokens to Vitalik Buterin, hoping to get noticed by the crypto community.
#PeckShieldAlert PeckShield has detected vitalik.eth 0xd8da6b...7aa96045 @VitalikButerin sold 25 trillion $SHIT (~$33k) on Uniswap. https://t.co/ILVS3NnUPt
— PeckShieldAlert (@PeckShieldAlert) August 4, 2022
vitalik.eth received 25 trillion $SHIT airdrops from pieceofshit: Deployer (0x87FaDF...CEF703c5) 60 days ago. pic.twitter.com/shiULoOq93
It is unknown why Vitalik kept these tokens for so long, but perhaps on the eve of Ethereum's transition to PoS, the blockchain creator decided to clean up his portfolio.
Other important things for Ethereum creator
While Vitalik is purging his portfolio of various questionable assets, other important multi-billion dollar developments are unfolding in Ethereum's backyard. So, it seems that another possible hard fork of the Ethereum network might be a bigger headache for Buterin.
As a result of the blockchain's rejection of the PoW consensus, miners began to realize that the expensive ETH mining equipment would be out of business and the resources invested in the business might never pay off. As revenues would instantly drop to zero, they would be excluded from the ecosystem entirely.
At the same time, one of the major players in the Chinese mining ecosystem, Chandler Guo, said that he plans to continue mining in the Ethereum PoW chain and is preparing a new network hard fork with a transition to the new blockchain ETHPoW. Thus, in addition to the already forked Ethereum Classic, another branch might be added, which does not seem good for the integrity of Ethereum as a whole.
Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.
Yuri Molchan
Alex Dovbnya
Dan Burgin
Vladislav Sopov