Vitalik Buterin provoked the fall of Ethereum

In his profile on the X platform, Ethereum co-founder Бутерін" href="https://noworries.news/biography/vitalij-buterin/" data-bio-id="3642">Vitalik Buterin offered the cryptocurrency community some financial advice. However, they were not well received by those who invested in Ethereum.

on January 7, Vitalik Buterin responded to a post about billionaires Bill Gates and Warren Buffett. The original post by X user «alex_avoigt» claimed that Bill Gates began to diversify his portfolio by selling Microsoft shares after he met with Warren Buffett. «Be careful about diversification and friends who recommend it,» was the comment that caught Buterin’s attention.

«Diversification is good,» he said, urging people to save. — «Make sure you have enough money to cover your expenses for several years. Financial security is freedom.»

However, Buterin later added: «Don't be boring with most of your portfolio,» meaning favoring low-risk investments, which cryptocurrencies are not. Finally, Vitalik advised crypto investors not to use more than 2x leverage.

The crypto community reacted strongly. A trader known by the nickname CoinMamba wrote:«Good advice if you are already a millionaire. But it does not apply to those who are trying to get rich.»

In turn, strategists from Tether and VanEck ironically asked Buterin if he was «still selling ETH,» and Autism Capital responded to the developer’s advice with a thesis: «That doesn’t sound bullish.»

Last week, Buterin joked: «In Ethereum, the worst thing that happens is when people lose money.» As a result, this is what is currently happening. According to the CoinMarketCap analytical tracker, at the time of writing, the leading altcoin ETH $3,273.78 Bridged Ether (StarkGate) -1.44% Market capitalization $0.29 billion VOL. 24 hours $1.2 billion is showing a drop of almost 1% and is trading at $ 2,226. The total amount of coins circulating on the market is $ 267.5 billion. Traders made daily trading deals worth $ 8.87 billion. Ethereum’s market share is 16.4%.

As a reminder, on January 3, the Ethereum Name Service (ENS) token soared by 80%. The sudden jump to an eight-month high was triggered by Vitalik Buterin, who publicly praised the crypto asset and urged the community to support his project. The father of ethereum noted that he considers the Ethereum Name Service «crucial.» He emphasized the need for the service to remain accessible and inexpensive for all users of the Ethereum network, especially in second-level (L2) networks.