Vitalik Buterin sells SHIK tokens and Ether

03/07/2023 04:55 • Crypto & Markets • 70 views

According to reports, PeckShield monitoring data shows that Vitalik Buterin has sold 50000000000000 SHIK tokens, obtained more than 164 WETHs (about US $260000), and transferred 214 WETHs (about US $337000) to EthDev address. At present, the price of SHIK has dropped by 95.8%.

V-god address has sold about 500 trillion SHIKs and transferred 214 WETH to EthDev address

Interpretation of the news:

Recently, PeckShield monitoring data has revealed that Vitalik Buterin, the co-creator of Ethereum, sold 50 trillion SHIK tokens, which is one of the largest token sales in cryptocurrency history. The sell-off also saw him obtain 164 WETHs, which is equivalent to approximately US $260,000. Additionally, he transferred 214 WETHs, which is worth approximately US $337,000, to EthDev’s address, a protocol that facilitates smart contract development.

Many cryptocurrency analysts speculate that Vitalik Buterin is liquidating his digital assets in order to benefit from the current market situation. Meanwhile, others believe he may be selling off SHIK tokens to move away from projects that could bring legal repercussions.

SHIK tokens saw an inevitable decline following the sale, with prices dropping by 95.8%. The community and investors have expressed their shared mistrust, and analysts predict that the token could continue to spiral downwards unless the team behind it takes deliberate and strategic steps towards improvement.

Vitalik Buterin’s seemingly sudden sell-off raises questions regarding his position on the cryptocurrency market. As a co-founder of Ethereum, his choices and actions carry significant weight in the market. His sell-off may trigger other investors to panic and sell their assets as well, ultimately impacting the cryptocurrency market as a whole.

In conclusion, Vitalik Buterin’s sell-off of SHIK tokens and Ether is a new development in the cryptocurrency market. The scale of the sale has caused widespread speculation among investors and analysts. The sharp decline in the price of SHIK follows the sell-off, which further adds to the volatility of the cryptocurrency market. As the market continues to change, it is important for participants to track developments like these and stay informed about the rationale behind prominent individuals’ actions.

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Vitalik Buterin sells SHIK tokens and Ether

V-god address has sold about 500 trillion SHIKs and transferred 214 WETH to EthDev address

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