Vitalik Buterin Sells Meme Tokens for $136,684, Causing 57% DHN Drop

Vitalik Buterin, the co-founder of Ethereum, has recently made significant transactions in the cryptocurrency market. According to data from OnchainLens, Buterin minted 315,382 DAI, a widely used stablecoin, and sold several meme tokens for a total of 71.69 ETH, which at the time was valued at approximately $136,684.

Among the tokens he sold were 146.18 billion FML for 2.51 ETH, 180.88 billion SHIB (Shiba Inu) for 0.987 ETH, 7.17 billion VB for 1.57 ETH, and 366.47 million AWESOME for 1.44 ETH. These transactions highlight Buterin's active participation in the broader cryptocurrency ecosystem, where he engages with various token markets, including the speculative and meme token sectors.

Earlier, Buterin had sold 5,000 DHN for 65.19 ETH, worth approximately $124,000. This sale resulted in a significant drop in the value of DHN, with its price plunging from $38 to as low as $16, marking a decrease of about 57%. Despite this, Buterin continues to hold 5,000 DHN, with an estimated current value of approximately $113,000.

Buterin's actions underscore his ongoing involvement in the cryptocurrency space, where he not only contributes to Ethereum-based projects but also actively participates in various token markets. His transactions demonstrate a strategic approach to managing his cryptocurrency holdings, reflecting his deep understanding of market dynamics and his influence within the community.