Vitalik Buterin says all Layer-2 tokens will be donated to charity, not sold for profit

• Vitalik Buterin plans to donate proceeds from the sale of Layer-2 tokens and other project assets to charity.
• Ethereum co-founder shared his plan for X and said he hasn’t sold Ether for profit since 2018.
• Ether is below $2,400 at the time of writing.

Ethereum co-founder Vitalik Buterin hasn’t sold Ether since the altcoin’s ICO in 2018. Buterin’s chain transfers make headlines as ETH holders keep an eye out for selling pressure on the altcoin.

Ether was trading at $2,382 at the time of writing.

Ethereum co-founder will not sell Layer 2 token holdings for earnings

Active Ethereum addresses increased by almost 10% in September. In addition to an increase in active addresses, there has been an increase in supply on exchanges. The exchange offer is up to 21.01 million, according to Santiment data.

The increase in exchange supply increases Ethereum’s willingness to sell and contributes to selling pressure on the asset. While ETH holders turn a blind eye when co-founder Vitalik Buterin makes on-chain transfers, the latter has assured them that it is not for profit-taking.

Buterin has not sold Ether for profit since the 2018 ICO.

The Ethereum co-founder has informed his followers on X that the same is true for Layer 2 tokens and plans to send these assets or proceeds from their sales to charity. Buterin is known to send funds to protocols he finds useful in the Ethereum ecosystem

Ether is trading below $2,400

Ethereum is trading at $2,385 at the time of writing. The altcoin added 0.69% to its value on the day. The second largest cryptocurrency is on track to recover from its August 5 low of $2,111.

On-chain data from Lookonchain shows that the Ethereum foundation transferred 1,000 Ether to a multi-signature wallet.