Ethereum co-founder Vitalik Buterin recently responded to accusations of ‘ETH dumping’ after crypto influencer Hexologist asked him on X (formerly Twitter) to stop selling his Ethereum. Buterin clarified that he hasn’t sold any personal Ethereum holdings in the past month, although the Ethereum Foundation has conducted some ETH sales.
Ethereum Foundation’s Purposeful ETH Sales
Buterin addressed the foundation’s ETH sales, explaining they are necessary to fund essential projects and support the Ethereum network. These sales help finance efforts to lower transaction fees, improve processing times, and enhance security on the blockchain. Additionally, the foundation’s funding supports global Ethereum events and developer initiatives, underscoring its commitment to network growth and ecosystem sustainability.