Vitalik Buterin sold off digital assets such as 50B MOPS, 9.9B CULT, and 5T SHIK.
SHIKOKU addressed on Twitter that they asked Buterin to sell all his SHIK stake.
Around 214ETH were donated to the ETHDev foundation by Buterin after selling 50% of his stake.
Vitalik Buterin’s outflow of digital assets such as 50 billion MOPS, 9.9 billion CULT, and 5 trillion SHIK caught the eye of various crypto enthusiasts and analysts. SHIKOKU, a decentralized crypto project, addressed on Twitter that they asked Buterin to sell all the SHIK allocated to him.
Around 214ETH were donated to the ETHDev foundation by Buterin after selling 50% of his SHIK stake. Meanwhile, Buterin retained 164ETH which was gained by selling the remaining SHIK. While some see it as a sign of a bearish signal, SHIKOKU was optimistic about their future.
@VitalikButerin has sold all the #SHIK allocated to him today, that we asked him very kindly to burn and donate. Confirm below.https://t.co/425wf5qOt6https://t.co/vNfM6niHIPhttps://t.co/BCkLFPldfsAlthough it may be a painful time for the community now… (1/?)
— Shikoku! (@shikokuinucoin) March 7, 2023
As a community-based project, SHIKOKU reminds the community that Buterin’s sale means that there are no whales in the project and they can completely focus on becoming a “truly decentralized community.” SHIKOKU mentions that they are decentralized and have zero tax, thus, could be the next meme coin in the crypto industry.
Elaborating their commitment towards the community, SHIKOKU expressed:
We here at Shikoku have always put the interest of the community first. We have always worked in the best interest of those who cared about our vision the most.
SHIKOKU also states that they had also foreseen this as a possible risk, and believes that Buterin’s actions would be a blessing in disguise in their path of becoming a “true community experiment in decentralization.” Currently, the official SHIK is only available on the Ethereum network.
Buterin’s action is not surprising as many cryptos tumbled into the red zone after facing turmoil this week. Moreover, many crypto analysts and influencers have observed FUD rising across the community as the prices of those digital assets continue to fall. However, the crypto community is still confident and believes this is only a current barrier.
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