Vitalik Buterin is no longer a Billionaire
The wallet of the co-founder of Ethereum has drastically dropped its value after two weeks of decline in cryptocurrencies
The collapse of cryptocurrencies has not only decreased the value of the virtual wallets of ordinary people, but also of the great holders of fortunes in digital assets.
Such is the case of one of the current blockchain geniuses. Vitalik Buterin, expresses the current situation of his wallet, which no longer has a billionaire figure.
He shared this information by his own hand on his Twitter account, to close one of the most depressing weeks in crypto assets. We tell you much more below!
The downtrend has also consumed Vitalik Buterin
This past week Internet users were stunned by the news shared by the creator of the giant Ethereum.
His tweet "I'm not a billionaire anymore" was one of the most viral news on the social network, all this past weekend.
There was knowledge of a bad state of the volatile market, but this reaches another level of lack of control. Normally, something like this is not expected to happen.
A level of downtrend, which has not been alien to the creator of the most successful blockchain in existence, promises to be one of the most acute threats in cryptocurrencies.
The whole scenario leaves us with a lot of questions, and the feeling of uncertainty on the part of investors and crypto fans only grows more and more.
Is Vitalik Buterin capable of calming the waters of the cryptocurrency market or does it only make fear grow more?
The creator of Ethereum defends his project
Vitalik Buterin, despite no longer being able to call himself a billionaire, does not underestimate the functionality and long-term gains that investing in digital assets can bring.
As he has highlighted in various interviews and press releases, the 28-year-old programmer is betting on a bear market for cryptocurrencies.
Vitalik expresses that these situations have a great meaning, because the investors who stay, in the long term, will obtain much more profits.
Buterin stated, after his news on his Twitter social network "No Trolls, Ethereum was not a mistake". This in defense of its creation after much speculation about its situation after losing so many numbers in its wallet.
Buterin seeks to reassure investors
The co-founder of Ethereum seeks not only to be a focus of attention to take the eyes of Internet users from falling cryptocurrencies, but also generates some peace of mind for investors.
The truth is that it is in an unfavorable situation, because many people have lost a gigantic sum by investing in coins like Terra, which is the cause of this market trend.
What about cryptocurrencies?
The control of the price of digital assets, as we have already explained before , depends on the supply and demand within the market, that is why it can reach those drastic rises and falls.
On this occasion, the reason for the collapse of crypto assets came as a result of the fall of two popular tokens in the cryptocurrency hive.
One of the said tokens turns out to be a stablecoin, which means that they are currencies that do not fluctuate in value. That is, they try to maintain a value close to the US dollar.
Terra is the first piece of the domino
Terra USD (UST) and Terra (LUNA) collapsed, generating discontent and distrust among investors, not only in these cryptocurrencies specifically, but also in general.
It does not look like this downtrend will culminate in just hours. Experts affirm that the market will remain as it has been doing for the last two weeks.
For its part, statements like those of Vitalik Buterin are the ones that relax a little the tension of cryptocurrencies in terms of their value.
How much value has Ethereum lost?
Consonant figures so far in the history of the value of Ethereum (ETH), start with its historical maximum, a figure of 4,867 dollars. While its minimum indicates a total of 1,633 dollars.
For Monday, May 23, the price of ETH is trading at a value a little higher than its minimum: $2,061, you can find it in all the statistics of the stock market.