Renowned Shiba Inu developer Karl Darya has reacted to the ongoing trend of FUD directed at Ethereum founder Vitalik Buterin, expressing his admiration.
Darya pointed out that every time we see Buterin facing a FUD narrative, the concerns and challenges he is battling with Shiba Inu pale in comparison.
he expressed Buterin made this point of view clear in response to repeated questions from community members regarding concerns about him and the Ethereum Foundation continuing to sell ETH tokens on the public market.
Vitalik Buterin and Ethereum Foundation ETH Sale
On October 15th, the Ethereum Foundation sold 100 ETH tokens worth $258,000, which is consistent with a consistent trend of offloading ETH tokens in recent months.
Specifically, seven days prior to the October 15 transaction, the Foundation was dispatched 1,250 tokens worth $3.03 million on Bitstamp. On-chain analyst Lookonchain observed that the Ethereum Foundation has liquidated 3,966 ETH tokens worth more than $11 million so far this year.
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these consistent sales transactions This often happens, especially when ETH is in a bull market, which raises some eyebrows among market participants. For example, Ethereum is currently trading at $2,470, while the average cumulative sales is $2,765.
Meanwhile, Vitalik Buterin is also caught up in this trend. September 19th, a wallet related to him Offload 1,300 ETH It is worth more than $3.17 million.
Market participants believe that these Buterin and Ethereum Foundation sales are contributing to ETH’s declining performance. As a result, community members continued to call for “stop selling ETH” in response to most of Buterin's tweets.
Buterin today chooses to buck this trend. In response to a recent call, the Ethereum founder said he is not selling ETH. In fact, his ETH holdings have increased even more over the past month.
I haven't sold any ETH in the past month? The amount of ETH I actually hold has increased.
— vitalik.eth (@VitalikButerin) October 25, 2024
Why the Ethereum Foundation continues to sell ETH
Buterin on the sale of the Ethereum Foundation explained These recurring transactions are essential to funding the researchers and developers responsible for important advances. Their efforts include preventing losses of 5 million ETH per year through proof-of-work and maintaining low transaction fees.
Additionally, the Foundation is also advancing technologies such as zk-tech for private transactions and account abstraction. This allows users to safely interact with ETH without relying on seed phrases or central points of failure.
Thanks to innovations like EIP-1559, transactions are processed in less than 30 seconds instead of 1 to 30 minutes. In this context, Buterin called on local residents to “show some respect” for the foundation's efforts.
Shiba Inu developer praises Ethereum's Buterin
In light of Buterin's explanation, Shiba Inu developer Karl Dahlia reflected on the significant challenges Buterin faces and pointed out how they overshadow his own struggles. Criticism surrounding Shiba Inu.
Dahlia said he hopes people will recognize the important role that Buterin's vision and the contributions of the Ethereum Foundation's developers have played in shaping the cryptocurrency industry. He concluded by saying that he continues to be inspired by their dedication.
“I am always inspired by their dedication.” he said.
When you look @VitalikButerin My own challenges and frustrations feel insignificant in the face of FUD. I hope people understand that without his vision and the contributions of the Ethereum Foundation developers, this industry would not exist as it does today. I am always inspired by their dedication. https://t.co/7cgOggLgI5
— Kaal (@kaaldhairya) October 26, 2024
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