Ethereum

<p>The post <a href="https://coinpedia.org/news/vitalik-buterin-moves-3000-eth-crypto-community-panics/" rel="noopener noreferrer nofollow">Vitalik Buterin Moves 3,000 ETH, Crypto Community Panics</a> appeared first on <a href="https://coinpedia.org" rel="noopener noreferrer nofollow">Coinpedia Fintech News</a></p>
<p>Ethereum co-founder Vitalik Buterin recently caught some allegations of dumping his ETH on the community. An on-chain data showed that Vitalik has moved another 800 ETH worth around $2.01M to a multisign wallet.He had transferred 3,000 ETH (around $8.04M) to the same wallet on August 9. This information created speculations among the community that Vitalik is selling, however, he made it clear that these claims are far from the truth.</p>
<h2 class="wp-block-heading" id="h-did-vitalik-buterin-sell-for-profit">Did Vitalik Buterin Sell for Profit?</h2>
<p>On August 30, lookonchain, in its X post shared that Vitalin made another transfer of 800 ETH to the same multisign wallet he sent 3,000 ETH before. This caused the ETH community to panic and people started posting skepticism on X. Some users even went to say that he has started dumping his holdings for gains.</p>
<figure class="wp-block-embed aligncenter is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">vitalik.eth(<a href="https://twitter.com/VitalikButerin?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">@VitalikButerin</a>) transferred 800 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($2.01M) to a multisig wallet again 40 minutes ago.<br><br>The multisig wallet swapped 190 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a> for 477K <a href="https://twitter.com/search?q=%24USDC&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$USDC</a> later.<br><br>On Aug 9, <a href="https://twitter.com/hashtag/Vitalik?src=hash&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">#Vitalik</a> also transferred 3,000 <a href="https://twitter.com/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">$ETH</a>($8.04M) to this multisig wallet.<a href="https://t.co/81Vf39bvbL" rel="noopener noreferrer nofollow">https://t.co/81Vf39bvbL</a> <a href="https://t.co/6IlwtcqvPg" rel="noopener noreferrer nofollow">pic.twitter.com/6IlwtcqvPg</a></p>— Lookonchain (@lookonchain) <a href="https://twitter.com/lookonchain/status/1829407124520374565?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 30, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<p>As soon as this caught the attention of Vitalik he responded saying he has not sold any ETH for personal gains since 2018. Instead, he made all sales to support various Web3 projects within the Ethereum ecosystem or for broader charity. Buterin clearly prioritizes the crypto community, and his actions reflect his dedication rather than personal gain.</p>
<figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
 <div class="wp-block-embed__wrapper">
  <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
   <p lang="en" dir="ltr">I haven't sold and kept the proceeds since 2018. All sales have been to support various projects that I think are valuable, either within the ethereum ecosystem or broader charity (eg. biomedical R&amp;D)</p>— vitalik.eth (@VitalikButerin) <a href="https://twitter.com/VitalikButerin/status/1829801352500801538?ref_src=twsrc%5Etfw" rel="noopener noreferrer nofollow">August 31, 2024</a>
  </blockquote>
  <script async src="https://platform.twitter.com/widgets.js" charset="utf-8"></script>
 </div>
</figure>
<h2 class="wp-block-heading" id="h-community-reaction-support-and-skepticism">Community Reaction: Support and Skepticism</h2>
<p>Vitalik’s response gathered significant support from the community. Many believe that he has all the rights to sell ETH for personal gains as he has always supported the community and the whole crypto ecosystem. Some people even encouraged the Ethereum co-founder not to listen to people and get a yacht, as he deserves it. A user even shared a ten month old post by Vitalik from farcaster saying he does not have to justify himself as he has warned about such news earlier.</p>
<div class="wp-block-image">
 <figure class="aligncenter size-full"><img decoding="async" width="645" height="288" src="https://image.coinpedia.org/wp-content/uploads/2024/08/31203413/vitalik-post-on-farcaster.png" alt="" class="wp-image-345408" srcset="https://image.coinpedia.org/wp-content/uploads/2024/08/31203413/vitalik-post-on-farcaster.png 645w, https://image.coinpedia.org/wp-content/uploads/2024/08/31203413/vitalik-post-on-farcaster-300x134.png 300w, https://image.coinpedia.org/wp-content/uploads/2024/08/31203413/vitalik-post-on-farcaster-150x67.png 150w" sizes="(max-width: 645px) 100vw, 645px">
 </figure>
</div>
<h2 class="wp-block-heading" id="h-what-s-next-for-ethereum-and-vitalik-buterin">What’s Next for Ethereum and Vitalik Buterin?</h2>
<p>While Vitalik’s responses have calmed the community, they are still worried about the consolidation state of Ethereum. As of writing, ETH is trading at $2,521 showing almost no movement. The daily trading volume of ETH has fallen by 16.18% as of the previous day. This concerns the community however, it remains optimistic about the future developments.</p>
<h2 class="wp-block-heading" id="h-looking-ahead">Looking Ahead</h2>
<p>In conclusion, Vitalik Buterin’s recent actions reflect his unwavering dedication to supporting the growth and sustainability of the Ethereum network and beyond. His transparency and ethical stance continue to earn him respect and trust within the crypto community, even in the face of skepticism. As Ethereum navigates its next chapter, Buterin’s leadership remains a cornerstone of its journey.</p>

Vitalik Buterin Moves 3,000 ETH, Crypto Community Panics

Table of Contents

CoinPedia News

Other articles published on Aug 31, 2024

Is It Too Late To Buy SUN? Sun (New) Price Skyrockets 21% As Analysts Say This New Meme Coin Migh...

Shiba Inu Lead Issues Urgent Message to SHIB Holders

From BONK’s 18,000% Surge to Gigachad’s Climb: Why MoonBag Might Be the Next Big Win in Crypto

Bitcoin: Is US Dollar the Catalyst Investors Need?

Ethereum’s Major Flaws Exposed: Here’s Why Ethereum Struggling To Hit All-Time-High

DigiHorse Surges Amid GameFi Boom, While Andrew Tate DADDY Coin Plummets and Bitcoin Struggles

Join our free newsletter for daily crypto updates!