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In response to a post by a crypto enthusiast, identified as Hexologist on X, asking the Ethereum co-founder to stop dumping Ethereum, Vitalik Buterin clarified that he has not sold any ETH from his personal holdings in the past month. Meanwhile, he admitted that his Ethereum Foundation has made some sales. But, he had a clear justification for why such an action is inevitable. At this time, the crypto community is eagerly discussing these latest statements made by Vitalik to disprove the ‘ETH dumping’ allegation against him, Etherem has dropped 2.7% in the last 24 hours. Here is what Vitalik shared and what it means for ETH’s price in the short and long term.  Vitalik Buterin Clarifies ETH Sales  Although responding to the ‘ETH dumping’ allegation, the Ethereum co-founder asserted that he had not sold a single ETH from his personal holdings in the last month, Vitalik admitted that his Ethereum Foundation has made some sales. He justified the Ethereum Foundation’s ETH sales, highlighting that the foundation must support essential network projects and fund developers and researchers.  I haven’t sold a single ETH in the past month? The amount of ETH I hold has actually gone up — vitalik.eth (@VitalikButerin) October 25, 2024 Purpose Behind Ethereum Foundation’s ETH Sales  Vitalik explained that it is through sales of ETH that the foundation generates funds to support network improvements like reducing transaction fees, speeding processing times, and enhancing security. He added that this funding process also supports global Ethereum events.   bro the ETH foundation is paying researchers and devs that are responsible for (i) ethereum not bleeding 5M ETH/year to proof of work(ii) your fees being low today(iii) your txs getting included in < 30s instead of like 1-30 min (eip 1559) show some respect — vitalik.eth (@VitalikButerin) October 26, 2024 Market…

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Filed under: News - @ October 26, 2024 11:17 am