A leading blockchain tracking firm says Ethereum (ETH) creator Vitalik Buterin is selling all his free meme coins that he was gifted.
According to data from Lookonchain, Buterin recently sold $693,000 worth of meme tokens Mops (MOPS), Cult DAO (CULT) and Shikoku (SHIK).
“vitalik.eth (@VitalikButerin) is selling his free sh**coins.
Currently sold 50billion MOPS for 1.25 $ETH($2K), sold 10bill CULT for 58 $ETH($91K), sold 500 trillion SHIK for 380 ETH($600K).”
With all of the moves occurring in the last few days, the meme token prices have reacted wildly differently to the large transaction. MOPS is trading for $0.000001 at time of writing, up 2,493% in the last 24 hours. CULT is worth $0.00004 at time up writing, down 6.9% on the day. SHIK is trading for $0.0000000043 at time of writing, down 73% on the day.
The Ethereum co-creator has a history of getting rid of the massive amounts of tokens often gifted to his address by smaller projects.
Two years ago, Buterin burned 90% of his Shiba Inu (SHIB) and pledged to give the remaining 10% to a charity.
The 410 trillion Shiba Inu tokens that Buterin burnt amount to about 41% of SHIB’s total supply. Upon news of the burning, SHIB spiked over 40% from $0.0000129 to $0.0000184. Buterin had been gifted half of the entire SHIB supply by Shiba Inu’s creators.
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