Ethereum founder, Vitalik Buterin has undertaken a large-scale transaction involving trillions of meme tokens, leaving the broader cryptocurrency space curious about the motives behind the founder’s decision. 

Ethereum Founder Executes Massive Memecoin Sales

Ethereum inventor and founder, Vitalik Buterin has made new headlines as reports surface of his substantial memecoin sales. According to blockchain security company, PeckShield Alerts, a Vitalik labeled wallet address was seen swapping 100,000,000,000,111.111 DOBE tokens worth approximately $22,900 for 10.44 Ethereum tokens (ETH). Additionally, the wallet also initiated another sale of 1,858,140,000,000 DOJO tokens worth $6800 for 3.12 ETH.

The motivation behind the sell-offs remains unknown however the large-scale memecoin transaction has adequately caught the attention of cryptocurrency investors and the market as a whole. 

The substantial meme coin sale follows a recent loss experienced by Buterin earlier this week. The Ethereum founder’s publicly known crypto wallets became short of $29 million between December 15 and 21. 

The loss was reported by blockchain analytics service, Arkham Intelligence. According to the analytics platform, the reason for the loss was due to crypto market fluctuations which saw Buterin’s wallets losing 5% of the total value of its assets. 

ETH price chart at $2,300 | Source: ETHUSD on Tradingview.com

Buterin Crypto Sell-Offs

In addition to Buterin’s recent large-scale meme coin sell-off, there have been many other crypto sales executed by the ETH

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Author: Scott Matherson

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