- Vitalik Buterin demands Stage 1+ for Layer 2 projects starting next year.
- Vitalik’s wallet recently exchanged 190 ETH amid market volatility.
Vitalik Buterin, Ethereum’s co-founder, has been at the centre of attention in recent days, both with his significant crypto transactions and his active presence on social media. On his X (formerly Twitter) account, Buterin declared a stricter stance on supporting Layer 2 (L2) projects, stating that, starting next year, he will only publicly endorse L2s that have achieved “stage 1+” status.
He emphasized the importance of cryptographic trust and warned against prematurely abandoning “training wheels” before security-proof systems are fully established.
I take this seriously. Starting next year, I plan to only publicly mention (in blogs, talks, etc) L2s that are stage 1+, with *maybe a short grace period* for new genuinely interesting projects.
— vitalik.eth (@VitalikButerin) September 12, 2024
It doesn't matter if I invested, or if you're my friend; stage 1 or bust.
Multiple… pic.twitter.com/4cGxgsfmUc
In his post, Buterin added, “The era of rollups being glorified multisigs is coming to an end. The era of cryptographic trust is upon us.” Multiple ZK-rollup teams have reassured him they are on track to reach stage 1 by the end of the year, fuelling optimism within the Ethereum ecosystem.
Meanwhile, on the financial front, Buterin’s wallet has made headlines once again. Almost 30 hours ago, the wallet exchanged 190 ETH for $441,971 in USDC. This follows a series of transactions that have seen the wallet offload 950 ETH, valued at approximately $2.28 million, since late August. When questioned about these moves, Buterin clarified that a bio-defense group he funds triggered the recent sale through an automated Cowswap transaction.
ETH Bullish Stance
Despite his ETH sales, Buterin remains vocal in promoting Ethereum. His latest post featured an image of bulls adorned with Ethereum logos, captioned, “ETH bullposting is good.”
The Ethereum community remains divided. While some are concerned about his ETH sales, others appreciate his ongoing contributions. Amid this activity, Ethereum has shown a modest 1.87% increase, trading at $2,367.51, although its monthly performance has seen a decline of 11%. And it’s 24-hour trading volume is up 11%.
With Buterin’s continued engagement, Ethereum’s market trajectory remains a topic of keen interest in the crypto world.
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