Vitalik Buterin, the Ethereum co-founder, has sold off a substantial portion of his Neiro holdings for ETH. This was recently reported by the top crypto-tracking platform Lookonchain.
Buterin sold 17.15 billion Neiro tokens, representing 4% of Neiro’s supply, in exchange for 44.53 ETH, worth about $112,448 at the time of the transaction. The transaction was initiated via Uniswap V2, one of the largest decentralized exchanges.
Transaction Overview
As the clock hit midnight on Monday, August 5, the transaction was executed, leading to an ultra-fast response from the market: Neiro briefly but significantly dropped in value.
Given the swiftness and steepness of the recovery, the market response to this event—that is, Vitalik Buterin’s significant sale—can best be described as extremely volatile, with investors and traders constantly re-estimating Neiro’s value in light of the changed market situation.
The token’s stunning comeback underscores the very mercurial nature of cryptocurrency markets, where sentiment can change abruptly and prices swing wildly in reaction to high-impact events.
Neiro Team’s Official Response: Setting the record straight
The Neiro team graciously sent a public message to Vitalik Buterin, warmly acknowledging his influence in the crypto space. Although this sale could harm the asset in terms of price, the team still appreciated him for what he had done for the crypto advancement.
They even added that Buterin should maybe think of donating some of the profits made to a stray dog shelter, bringing much-needed levity and social responsibility into the dialogue. This worked for the Neiro team in terms of demonstrating commitment to community engagement and charitable giving.
What helped to set records straight and correct probable misconceptions was a statement from the Neiro Team released afterward, supplying important context and clarification. They said that the tokens sent to Vitalik Buterin were not intended to give credibility or reputation, but rather a pure airdrop by the project’s creator.
The team reiterated that the project is now in community hands, with no relationship remaining with its original developer, thus entrenching a high level of commitment to transparency, autonomy, and community-driven governance.
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Uncovering Vitalik Buterin’s Past Deals
Vitalik Buterin’s latest sale of Neiro for ETH tokens is only the newest in a long list of high-profile transactions by the Ethereum co-founder.
Shiba Inu team had highlighted Buterin’s history of impactful moves. This was the foundation of SHIB’s better days. He made a stunning move about 3 years ago when he burned an eye-popping 410 trillion SHIB, resulting in a massive price breakout.
In September 2023, Buterin was at the epicenter of heavy speculation after transferring 2,000 ETH to a secondary wallet previously known to conduct several transactions related to Bitstamp, making many people think the cryptocurrency would be sold.
Disclaimer: This content is meant to inform and should not be considered financial advice. The views expressed in this article may include the author’s personal opinions and do not represent Times Tabloid’s opinion. Readers are urged to do in-depth research before making any investment decisions. Any action taken by the reader is strictly at their own risk. Times Tabloid is not responsible for any financial losses.
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