{"id":75225,"date":"2023-03-08T17:57:58","date_gmt":"2023-03-08T15:57:58","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=75225"},"modified":"2025-09-10T10:26:05","modified_gmt":"2025-09-10T07:26:05","slug":"vitalik-buterin-dumps-a-batch-of-tokens-in-a-700000-sell-off","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/vitalik-buterin-dumps-a-batch-of-tokens-in-a-700000-sell-off\/","title":{"rendered":"Vitalik Buterin dumps a batch of tokens in a $700,000 sell-off"},"content":{"rendered":"<p>Ethereum co-founder Vitalik Buterin swapped airdrop-derived tokens for ETH worth about $700,000, sending prices of several coins tumbling.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">vitalik.eth (<a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\">@VitalikButerin<\/a>) is selling his free shitcoins.<\/p>\n<p>Currently sold 50B <a href=\"https:\/\/twitter.com\/search?q=%24MOPS&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$MOPS<\/a> for 1.25 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($2K), sold 10B <a href=\"https:\/\/twitter.com\/search?q=%24CULT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CULT<\/a> for 58 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($91K), sold 500T <a href=\"https:\/\/twitter.com\/search?q=%24SHIK&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHIK<\/a> for 380 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a>($600K).<a href=\"https:\/\/t.co\/SboWZsO8WY\">https:\/\/t.co\/SboWZsO8WY<\/a> <a href=\"https:\/\/t.co\/xNaRTeVM7K\">pic.twitter.com\/xNaRTeVM7K<\/a><\/p>\n<p>\u2014 Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/1632965022166155264?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>According to Etherscan, he sold through DeFi platforms:<\/p>\n<ul class=\"wp-block-list\">\n<li>500 trillion Shikoku (SHIK) for 380.3 ETH ($595,448);<\/li>\n<li>approximately 10 billion Cult DAO (CULT) for 58.1 ETH ($91,021);<\/li>\n<li>50 billion Mops (MOPS) for 1.25 ETH ($1,950);<\/li>\n<li>3.4 million Bite (BITE) for 5.9 ETH ($9,250).<\/li>\n<\/ul>\n<p>The total SHIK supply stands at one quadrillion, and Buterin sold half of that amount. As a result, the token price collapsed by 95.8%, PeckShield noted.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PeckShieldAlert?src=hash&#038;ref_src=twsrc%5Etfw\">#PeckShieldAlert<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24SHIK&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHIK<\/a> (SHIKOKU) has dropped -95.8%<br \/>Vitalik Buterin-labeled address has dumped ~5T <a href=\"https:\/\/twitter.com\/search?q=%24SHIK&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$SHIK<\/a>, and gained ~164 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> (~260k) and transferred 214 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> ($337k) to EthDev<a href=\"https:\/\/t.co\/Uw6TA1RDKP\">https:\/\/t.co\/Uw6TA1RDKP<\/a> <a href=\"https:\/\/t.co\/FuIbgGgrdA\">pic.twitter.com\/FuIbgGgrdA<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/1632947987218595840?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>CULT prices did not react as strongly to the large sale, slipping only 13.7%.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\"><a href=\"https:\/\/twitter.com\/hashtag\/PeckShieldAlert?src=hash&#038;ref_src=twsrc%5Etfw\">#PeckShieldAlert<\/a> <a href=\"https:\/\/twitter.com\/search?q=%24CULT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CULT<\/a> (Cult DAO) has dropped -13.7%<br \/>Vitalik Buterin-labeled address has dumped ~9.9B <a href=\"https:\/\/twitter.com\/search?q=%24CULT&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$CULT<\/a> for ~58 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&#038;src=ctag&#038;ref_src=twsrc%5Etfw\">$ETH<\/a> ($91.5k) <a href=\"https:\/\/t.co\/Vq92EO5vDa\">https:\/\/t.co\/Vq92EO5vDa<\/a> <a href=\"https:\/\/t.co\/tc8llKJQ0I\">pic.twitter.com\/tc8llKJQ0I<\/a><\/p>\n<p>\u2014 PeckShieldAlert (@PeckShieldAlert) <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/1632950756780433409?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>The price of MOPS over the last 24 hours has fallen by 26.5%, according to CoinGecko. The altcoin is trading roughly 1,655% above its February 23 minimum.<\/p>\n<figure class=\"wp-block-image\"><img decoding=\"async\" src=\"https:\/\/lh4.googleusercontent.com\/QQ43TIV_thf0t-6UJ3LSZfkISM3INjqDoUNym7ZE_5BRAn-Sfnj_rcEUVYDRiWEyaKNmpgSLGxNGnLc7DnnErAwLSY9LtdBpqcXFY9CI7Nmr7E6xdk9Un2Rdqi9GKJKmu3knCVzi8Vuk_RERz-Df1B0\" alt=\"Vitalik Buterin dumps a batch of tokens in a $700,000 sale\" \/><figcaption>Data: CoinGecko.<\/figcaption><\/figure>\n<p>Users in the comments reminded that Buterin has previously <a href=\"https:\/\/u1f987.com\/en\/news\/vitalik-buterin-dumps-dogecoin-clone-tokens\">\u0443\u0441\u0442\u0440\u0430\u0438\u0432\u0430\u043b \u0434\u0430\u043c\u043f \u043c\u043e\u043d\u0435\u0442<\/a> with similar sell-offs. Experts say he could not have failed to understand the consequences of his move.<\/p>\n<blockquote class=\"twitter-tweet\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">We have been over this before. Don\u2019t send tokens to Vitalik. I remember 2 years ago being in a dog project and had 45K in it, only for Vitalik to dump the chart 99%. He is ruthless. He did it to all the dog coins.<\/p>\n<p>\u2014 Thor | Kirito (@Thorshammergems) <a href=\"https:\/\/twitter.com\/Thorshammergems\/status\/1633052087511662593?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>It is not known what prompted the Ethereum co-founder to unload these tokens. One hypothesis is that he sought to address tax issues related to the airdropped coins.<\/p>\n<blockquote class=\"twitter-tweet\" data-conversation=\"none\" data-lang=\"en\">\n<p lang=\"en\" dir=\"ltr\">Seems like a strange move, he is more than aware this would tank prices and drain liquidity. My one assumption is that his accountant warned him these tokens would count as income on his tax sheet. Selling to cover the expense<\/p>\n<p>\u2014 SecureZero  (@securezero) <a href=\"https:\/\/twitter.com\/securezero\/status\/1632969511153414145?ref_src=twsrc%5Etfw\">March 7, 2023<\/a><\/p><\/blockquote>\n<p> <script async=\"\" src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Back in May 2021, Buterin <a href=\"https:\/\/u1f987.com\/en\/news\/vitalik-buterin-burns-90-of-his-shiba-inu-tokens\">burned 90%<\/a> of his Shiba Inu holdings, triggering a rise in the token&#8217;s price. Before that, the project&#8217;s developers <a href=\"https:\/\/u1f987.com\/en\/news\/vitalik-buterin-emerges-as-the-largest-holder-of-shiba-inu\">transferred more than half of the coin&#8217;s issuance<\/a>\u2014one quadrillion tokens\u2014to him.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum co-founder Vitalik Buterin swapped airdrop-derived tokens for ETH worth about $700,000, driving down the prices of several coins.<\/p>\n","protected":false},"author":1,"featured_media":75226,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[20,200],"class_list":["post-75225","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-altcoins","tag-vitalik-buterin"],"aioseo_notices":[],"amp_enabled":true,"views":"80","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75225","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=75225"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75225\/revisions"}],"predecessor-version":[{"id":75227,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/75225\/revisions\/75227"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/75226"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=75225"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=75225"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=75225"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}