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.
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:
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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Source: Cryptocurrency - investing.com
