Ethereum’s co-founder, Vitalik Buterin, saw a decline of $29m within a span of six days.
Vitalik Buterin, the co-founder of the revolutionary blockchain platform that introduced smart contracts to the world, has experienced a significant decrease in the value of his cryptocurrency holdings. According to data provided by Arkham Intelligence, a blockchain analytics service, Buterin’s publicly-known crypto wallets lost approximately $29 million in just six days, from December 15th to December 21st. This represents a 5% decrease in the total value of the wallets, as the assets they held dropped from $572 million to $543 million.
The majority of Buterin’s holdings are in Ethereum (ETH), with only a small portion allocated to other assets such as Kyber Network (KNC) and Wrapped Ethereum (WETH). As a result, Buterin is highly exposed to the volatility of Ethereum’s price, as it accounts for almost the entire value of his portfolio. On December 15th, the price of ETH reached a peak of nearly $2,300, but it has since fallen by over 4% and currently stands at just above $2,200.
Vitalik Buterin, a Russian-Canadian programmer and writer, is widely recognized for his significant contributions to the development of Ethereum. He co-founded Bitcoin Magazine, a popular online publication focused on Bitcoin, and published a white paper in 2014 introducing Ethereum as a blockchain platform with the capability to support smart contracts. Since its launch in 2015, Ethereum has become the second-largest cryptocurrency platform, trailing only behind Bitcoin in terms of market capitalization. Buterin remains actively involved in enhancing and advancing Ethereum’s open-source protocol technology.
In recent news, Buterin’s NFT collection has sparked a surge in Ethereum gas fees, further highlighting his influence and impact within the cryptocurrency industry.
