Vitalik Buterin Rules Out Layer2 Token Investments for the Time Being
CryptoNewsTerminal Staff05 Sep, 2024
Vitalik Buterin Rules Out Layer2 Token Investments for the Time Being
Vitalik Buterin, the co-founder of Ethereum, recently announced that he has no plans to invest in Layer2 tokens at this time. He stated that he has never sold ETH or any other L2 tokens for personal gain since 2018, and that any proceeds from token sales have been directed to the ETH ecosystem or to charitable causes. Buterin emphasized that he is not categorically opposed to Layer2 projects, but he believes that many of them are currently overvalued. He said that he will only consider investing in Layer2 projects that he believes are undervalued and have the potential to bring genuine value to the Ethereum ecosystem. This announcement from Buterin is likely to have a significant impact on the Layer2 token market, as many investors have been looking to him for guidance. It is also a reminder that even the most respected figures in the cryptocurrency space are not immune to the risks of investing in a volatile and speculative market.
