• Vitalik Buterin recently sold over $700,000 worth of tokens that he had been airdropped.
• In a recent Reddit thread, he mocked shitcoins discussed by the community.
• He received a total of 250,000 BITE shortly after posting his criticism against them.
Vitalik Buterin Sells Over $700,000 Worth Of Tokens
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 selling frenzy on March 7; transferring 3.4 million BITE for around $9,250.
Buterin Speaks Out Against Shitcoins
In a post published on March 9 on a small subreddit started by Vitalik in July 2020 and still moderated by him today , he 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.“ This message spurred trolling from other users of the subreddit as well as an increase in shilling for BITE token posts.
Buterin Receives 250K BITE Tokens
After posting his criticism against shitcoins on Reddit thread , Buterin received a total of 250,000 BITE shortly afterwards . The token is not traded on major price monitoring websites so its exact value is unknown .
Previous Token Sales By Buterin
It’s not the first time Buterin dumps coins; in May 2021 his Shiba Inu and Dogelon Mars (ELON) sell-off caused their values to plummet by 40% and 90%, respectively.
Conclusion
Despite recently selling these crypto assets himself , Ethereum founder Vitalik Buterin stands firm in his opinion against shitcoins and warns investors about their lack of redeeming qualities .