Vitalik Buterin Is Selling $700,000 in Altcoins: Here Are the Coins
March 7, 2023
Interestingly, one of the tokens experienced a 1,400% increase after the sell-off.
Data from the on-chain data source Lookonchain shows that Vitalik Buterin converted $700,000 worth of various alt coins into the native coin of his invention, ETH.
- The biggest offload involved SHIKOKU (SHIK), where 500T were exchanged for 380 ETH, which is equivalent to about $600,000 in value. Within a short time, the memecoin’s price fell over 60%.
- Additionally, 10B CULT were traded for $91K in Ether, with the former declining 10% during the course of the day.
Last but not least, Buterin’s address reveals a transfer of 10B MOPS for just over one ETH (equal to $2,000).
- A different meme coin based on dogs, MOPS, has risen by 1,400% in the last 24 hours, according to CoinMarketCap.
It’s not the first time Buterin has traded some of the gifts he’s gotten for ETH. The Shiba Inu tokens he had in his account were all swapped a few years back.
- It’s interesting to note that after that, the value of the now-second-largest memecoin skyrocketed, and the amount he traded was once worth almost $30 billion.
- However, the co-founder of Ethereum used the money to pay for a grant for AI research.