• Vitalik Buterin recently sold over $700,000 worth of tokens that had been airdropped to him.
• He mockedshitcoins discussed by the community in a Reddit thread and cashed out 10 billion CULT tokens for 58 ETH (roughly $91,000) and 500 trillion SHIK tokens for 380 ETH (approximately $600,000).
• Buterin received a total of 250,000 BITE shortly after posting the tweet he was criticized for.

Vitalik Buterin Sells Tokens

The Ethereum founder Vitalik Buterin has just sold over $700,000 worth of tokens that had been airdropped to him. According to Etherscan, Vitalik’s publicly known wallet address had sold 50 billion MOPS tokens, equating to 1.25 ETH (approximately $2,000) when the transaction was complete. He further cashed out 10 billion CULT tokens for 58 ETH (roughly $91,000) and 500 trillion SHIK tokens for 380 ETH (approximately $600,000). Moreover, according to PeckShield, BITE was one of the tokens he sold during his shitcoin selling frenzy on March 7. He reportedly transferred 3.4 million BITE for around $9,250. It’s not the first time Buterin dumps coins. In May of 2021, his Shiba Inu and Dogelon Mars (ELON) sell-off caused the values of those tokens to plummet by 40% and 90%, respectively.

Vitalik Speaks Against Shitcoins

In a post published on March 9 on a small subreddit r/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.“ It is also possible that Buterin’s message was spurred by the many posts supporting the BITE token on the subreddit which he started in July 2020 and still moderates today. Nevertheless, this post made him targetted by trolls with other users increasing shilling efforts with memes.

Criticism For Tweet

Buterin received a total of 250,000 BITE shortly after posting the tweet he was criticized for. The token is not traded on major price monitoring websites which resulted in criticism from crypto enthusiasts who thought it might be part of Pump & Dump scheme or FOMO trading technique used by market manipulators .

Conclusion

Despite selling various shitcoins recently , Vitalik Buterin stands firm against them showing no signs of changing his stance towards them . The fact that he does not trade any well-known cryptocurrencies but only those newly issued ones , raises questions about their legitimacy . No matter what , it is always wise to invest carefully in cryptocurrency as there are plenty scams out there .

Takeaways

• Despite selling various shitcoins recently , Vitalik Buterin stands firm against them showing no signs of changing his stance towards them .
• His post about shitcoin sparked criticism from crypto enthusiasts who thought it might be part of Pump & Dump scheme or FOMO trading technique used by market manipulators .
• Invest carefully in cryptocurrency as there are plenty scams out there