Vitalik Buterin Increases Activity On X Amid Criticism

According to Cointelegraph, Ethereum co-founder Vitalik Buterin has significantly ramped up his activity on X, formerly known as Twitter, following criticism that he had abandoned the platform. In August alone, Buterin posted or replied about Ether (ETH), the Ethereum blockchain, and other topics at least 158 times. This surge in activity was highlighted by trader and economist Alex Krüger in a Sept. 12 X post. In stark contrast, from January to July, Buterin made only 44 posts and had posted just 13 times in all of 2023. Buterin addressed the criticism in an Aug. 20 X post, stating that he was advised to "do less philosophizing and do more Ethereum bullposting." He faced accusations of abandoning X for the smaller Farcaster platform, with accounts like “Autism Capital” urging him to return to X and promote Ethereum. Autism Capital speculated that Buterin preferred Farcaster because it allowed him to engage with a smaller group of like-minded peers with less scrutiny. Buterin's increased activity on X has continued into September, with over 30 posts or replies up to Sept. 13. His posts have suggested that the community should begin ramping up the pressure on Layer 2 solutions that lack adequate decentralization protocols. In July, Solana surpassed Ethereum in weekly total fees for the first time, generating approximately $25 million in revenue compared to Ethereum's $21 million. In August, Buterin transferred about $10 million worth of his Ether holdings to wallets associated with crypto exchanges. Data from Arkham Intelligence revealed that Buterin’s address had outflows of around 422,000 ETH (worth $993 million) since 2015. These transfers led to speculation that Buterin was selling his Ether holdings to realize profits. However, Buterin denied these claims, stating that he has never sold his Ether holdings for profit, only to support various projects he deems valuable. The price of Ether is currently at $2,350 and has been unable to close above $2,500 since Sept. 2.