Mi. Feb 21st, 2024

• Ethereum Founder Vitalik Buterin recently transferred 200 ETH to the Kraken cryptocurrency exchange.
• He used his ETH hoard as collateral on Reflexer to create 150,000 RAI tokens and traded them for other stablecoins.
• Buterin also sold 9.9 billion CULT tokens and shares in BITE and MOPS, resulting in a total of 220 ether worth $332,420.

Ethereum Founder’s Selling Spree

Ethereum (ETH) founder Vitalik Buterin has been making headlines recently after transferring 200 ETH to the Kraken cryptocurrency exchange. According to PeckShield, he used the ETH hoard as collateral on Reflexer to create 150,000 RAI tokens which were then exchanged for 378,500 USD Coin (USDC) and 50,000 Dai.

Quick Transaction Times

The whole process of exchanging ETH into USDC and DAI was completed in less than three hours according to Etherscan blockchain monitoring service. To create 100,00 RAI, Buterin initially sent 200 ETH to Reflexer before donating another 300 ETH shortly afterwards.

Previous „Shitcoin“ Dumping

Buterin had previously sold Dogelon Mars (ELON) token in May 2021 resulting in reductions in their value by 40% and 90%. Following this most recent transaction involving his own Ethereum network coinage ,the price projections for Ethereum are looking optimistic.

„Strongly Oppose“ Proposals

When discussing other coins tagged with his name such as BITE on Reddit forum r/Testingtesting62831 he labeled them as „shitcoins“ with no redeeming cultural or moral significance that will probably lose most of the money invested into them. He said that he strongly opposes these proposals.

„Optimistic“ Price Projections

Following this most recent transaction involving his own Ethereum network coinage ,the price projections for Ethereum are looking optimistic.

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