Ethereum maximalist decides to sell all ETH holding, as Vitalik Buterin refuses proposal letter

On Mar 31, 2024

Some Ethereum (ETH) bulls decided to leave ETH support, as innovative but bad decisions are killing Ethereum coin price growth.

Ethereum (ETH), the second top high market cap smart contract blockchain, is the second best choice of investment among crypto investors, after Bitcoin. Currently a dozen crypto networks are dependent on the Ethereum network to get a boost e.g. Polygon, Arbitrum, Optimism, etc. These networks are mainly known as Ethereum layer-2 scaling networks and help people to transfer ETH & ERC-20 tokens on the Layer-2 networks at a very low fee.

This is a bitter reality that the Ethereum blockchain, as a layer-1 blockchain, is not affordable for small retail investors and this is the reason why Ethereum Layer-2 networks are popular.

On 30 March 2024, An ETH bullish supporter shared his sadness with the Ethereum project. He said that he has been holding ETH since the ETH trade price was $1 but now he is not happy with ETH.

This guy disclosed that following a meeting with some other ETH supporters, they sent a letter to the Ethereum co-founder Vitalik Buterin to shut down L2 scaling and parallelize the EVM and all ETH holders affected should be refunded a part of their loss at the time.

Vitalik rejected the suggested proposal and in response, this ETH maxi decided to sell all of his ETH holdings.

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It is with a heavy heart I announce the sale of my long term bag, ETH. Most of my early followers know me as this bag from $1. My kids know me as this bag. I met my wife when I WAS this bag and had my first kid when I was still proudly wore this bag. By extension, it is part of… pic.twitter.com/zsZ1N4zLqy
— Evanss6 (@Evan_ss6) March 30, 2024

Notably this former ETH Maxi getting huge support from Crypto X (Formerly Twitter) users at a big level.

Ethereum “The Merge”

In Sep 2022, The Ethereum blockchain network shifted all of its operations on the Proof-of-stake (PoS) from Proof-of-work (PoW).

Following the Merge event, the Ethereum community developers are engaged in a high level of development work to bring high scalability to the network.

In 2022, Vitalik Buterin already confirmed that Ethereum layer-2 scaling networks will play a vital role in pushing Ethereum blockchain adoption, despite operations on PoS consensus.