Vitalik Buterin Offloading $700K of Altcoins: Here’s Which Coins

The co-founder of the world’s second-largest blockchain has made several swaps for some of the alternative coins that were sent to him as gifts over the years.

According to data from the on-chain data resource – Lookonchain – Vitalik Buterin has turned over $700,000 worth of different alts into the native coin of his brainchild – ETH.

vitalik.eth (@VitalikButerin) is selling his free shitcoins.

Currently sold 50B $MOPS for 1.25 $ETH($2K), sold 10B $CULT for 58 $ETH($91K), sold 500T $SHIK for 380 $ETH($600K).https://t.co/SboWZsO8WY pic.twitter.com/xNaRTeVM7K

— Lookonchain (@lookonchain) March 7, 2023

• The largest offload came in the form of SHIKOKU (SHIK) – 500T were swapped for 380 ETH worth roughly $600,000. The price of the memecoin plummeted by over 60% shortly after.
• 10B CULT were exchanged for $91K worth of Ether as well, and the former is down by 10% on the day.
• Lastly, Buterin’s address shows a transfer of 10B MOPS for just over one ETH (worth $2,000). According to CoinMarketCap, MOPS – another dog-based memecoin – has skyrocketed by 1,400% in the past 24 hours.
• This is not the first time Buterin has exchanged some of the gifts he has received for ETH. CryptoPotato reported a few years back that he swapped all of the Shiba Inu tokens he had in his account.
• Interestingly, the value of the now second-largest memecoin exploded after that and the amount he swapped was worth almost $30 billion at one point.
• Nevertheless, Ethereum’s co-founder used the proceeds to fund an AI research grant.