Privacy Alarm! Vitalik Buterin tests a tool that 'erases the trace' of his transactions, just when Ethereum is wobbling! 🛡️🔥 What's up with this? Ethereum co-founder Vitalik Buterin is not only selling memecoins but is now fully immersed in the hottest debate in the crypto world: total privacy.
Check out the mind-blowing fact: Vitalik tested Hinkal's new "Invisible Wallet." And what is that? A privacy-focused tool designed to hide wallet activity on the blockchain. He sent only 0.01 ETH (about 44 USD) at the end of August using this app, and while the basic transaction was recorded, the internal details were hidden. Puff! 💨
Why is this so important, my people? Because transparency is the foundation of the blockchain, but it is also the Achilles' heel for people with a lot of money. According to the CEO of Hinkal, total visibility of assets ($4 trillion globally, almost nothing!) is a "mistake" that exposes users to risks, such as the hacks that totaled $163 million just in August. Vitalik is saying with his actions: we need privacy for the heavyweights.
The double play: $96K of Memecoins and the Fall of ETH 📉
Now, back to what juices it up: Vitalik just sold a bunch of free memecoins (40.25B of SPURDO, 10.31B of MARVIN, 6B of DOJO) on Uniswap for a value of $96,000 USD (22.14 ETH). Money fallen from the sky! 😇 As is his custom, he did not buy them, they were sent to him as a gift (airdrop), and he liquidates them to donate to charitable causes, as he has done before with SHIBA INU or AKITA. His message is consistent: he is against the speculative hype that uses his name and wants to redirect that energy to things that really matter (like the Methuselah Foundation, where he moved part of those funds).
But here comes the part that hits our pockets: this move from Buterin comes at a delicate moment for Ethereum (ETH). The price has been a bit weak, falling almost 2% in 24 hours and 3% in the week, settling around $4,357 USD. Watch out, analysts like Ali Martínez have marked the range of $4,000 to $4,800 USD as a "danger zone" 🚨. It is the barrier where people always get nervous and start selling. Although the long-term trend remains bullish, short-term selling pressure is strong.
In summary: We have Vitalik sending a double message. On one hand, he is using his money to support extreme privacy on the blockchain with tools like Hinkal, looking to protect the big holders. On the other hand, he continues to use the gifted memecoins for philanthropy, although his sales may put temporary pressure on those coins. All this while the price of ETH is at a critical point.
Question to Think: If the creator of Ethereum is looking for ways to hide his transactions with privacy tools like Hinkal, should we be concerned that the total transparency of the blockchain is reaching its limit? Is privacy the inevitable future of cryptocurrencies? 🤔$ETH
