{"id":522072,"date":"2023-03-07T09:15:54","date_gmt":"2023-03-07T09:15:54","guid":{"rendered":"https:\/\/wncen.com\/?p=522072"},"modified":"2023-03-07T09:00:43","modified_gmt":"2023-03-07T09:00:43","slug":"ethereum-founder-buterin-dumps-these-meme-coins","status":"publish","type":"post","link":"https:\/\/wncen.com\/news\/ethereum\/ethereum-founder-buterin-dumps-these-meme-coins\/","title":{"rendered":"Ethereum Founder Buterin Dumps These Meme Coins, What You Need to Know"},"content":{"rendered":"<p>Ethereum co-founder Vitalik Buterin caused a stir in the crypto community today, but not with a tweet, but with the sale of several unknown meme coins. Both on-chain data provider Lookonchain and blockchain security company PeckShield have reported the transactions.<\/p>\n<p>Lookonchain revealed via Twitter on March 7 that Vitalik Buterin is selling off &#8220;his free shitcoins.&#8221; So far, the Ethereum co-founder has sold 50 billion MOPS for 1.25 ETH (about $2,000), 10 billion CULT for 58 ETH (about $91,000) and 500 trillion SHIK for 380 ETH (about $600,000).<\/p>\n<blockquote class=\"twitter-tweet\" data-width=\"500\" data-dnt=\"true\">\n<p lang=\"en\" dir=\"ltr\">vitalik.eth (<a href=\"https:\/\/twitter.com\/VitalikButerin?ref_src=twsrc%5Etfw\" rel=\"nofollow\">@VitalikButerin<\/a>) is selling his free shitcoins.<\/p>\n<p>Currently sold 50B <a href=\"https:\/\/twitter.com\/search?q=%24MOPS&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$MOPS<\/a> for 1.25 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a>($2K), sold 10B <a href=\"https:\/\/twitter.com\/search?q=%24CULT&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$CULT<\/a> for 58 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a>($91K), sold 500T <a href=\"https:\/\/twitter.com\/search?q=%24SHIK&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$SHIK<\/a> for 380 <a href=\"https:\/\/twitter.com\/search?q=%24ETH&amp;src=ctag&amp;ref_src=twsrc%5Etfw\" rel=\"nofollow\">$ETH<\/a>($600K).<a href=\"https:\/\/t.co\/SboWZsO8WY\" rel=\"nofollow\">https:\/\/t.co\/SboWZsO8WY<\/a> <a href=\"https:\/\/t.co\/xNaRTeVM7K\" rel=\"nofollow\">pic.twitter.com\/xNaRTeVM7K<\/a><\/p>\n<p>&mdash; Lookonchain (@lookonchain) <a href=\"https:\/\/twitter.com\/lookonchain\/status\/66155264?ref_src=twsrc%5Etfw\" rel=\"nofollow\">March 7, 2023<\/a><\/p><\/blockquote>\n<p><script async src=\"https:\/\/platform.twitter.com\/widgets.js\" charset=\"utf-8\"><\/script><\/p>\n<p>Security firm PeckShield Alert <a href=\"https:\/\/twitter.com\/PeckShieldAlert\/status\/18595840\" target=\"_blank\" rel=\"noopener nofollow\">reported<\/a> via Twitter that CULT (Cult DAO) has fallen 13.7% since the dump by Buterin. SHIK (SHIKOKU) has been hit even harder, falling -95.8%. The SHIK address tagged with Vitalik Buterin has netted around 164 ETH (around $260,000) and transferred 214 ETH (around $337,000) to EthDev.<\/p>\n<p>According to Etherscan, the address belongs to the Ethereum Foundation and currently has an Ethereum balance of 336,271.54 ETH, worth about $528.18 million.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/analysis\/eth\/ethereum-price-increase-1600\/\" target=\"_blank\" rel=\"noopener \">Ethereum Price Breaking This Single Level Will Spark a Steady Increase<\/a><\/div>\n<p>Remarkably, Buterin has not sold all of his CULT tokens. As crypto Twitter noted, the Ethereum co-founder still owns 10 billion CULT. &#8220;Didn&#8217;t sell all his CULT tho. Guess he&#8217;s holding 10bn as a moon-bag,&#8221; one user said.<\/p>\n<h2>Crypto Twitter Reacts To Sales From Ethereum Co-Founder<\/h2>\n<p>The crypto community on Twitter has been mostly disappointed by the action of Ethereum mastermind Buterin. The backdrop is that altcoins were largely illiquid cryptocurrencies, and thus the dump had a massive impact on low-value projects and the investors who own them.<\/p>\n<p>Others are upset with projects sending Vitalik free tokens. Meanwhile, Buterin&#8217;s motivations for selling the altcoins are unknown.<\/p>\n<p>One user stated that this seems like a strange move, as Buterin is well aware that his sales will have a massive impact on prices. One theory is that his accountant warned him that these tokens would count as income on his tax return, which is why he sold the tokens to cover the costs.<\/p>\n<div class=\"related-reading-shortcode\">Related Reading: <a href=\"https:\/\/wncen.com\/news\/ethereum\/ethereum-in-an-obvious-accumulation-range-of-all-time-preparing-for-5000\/\" target=\"_blank\" rel=\"noopener \">Ethereum In An \u2018Obvious Accumulation Range Of All Time\u2019 \u2013 Preparing For $5,000?<\/a><\/div>\n<p>Another theory is that Buterin is fully aware of the impact, as evidenced by the fact that he has done this several times before with other free altcoins. On the Lex Fridman podcast, Buterin explained once that he could put the money to better use elsewhere. In these cases, he has donated the funds, as was the case with Shiba Inu (SHIB), for example.<\/p>\n<h2>Buterin Reveals His Favorite DEX?<\/h2>\n<p>Meanwhile, another user has pointed out that Buterin may have once again revealed his favorite DEX with the transfers. &#8220;Everyone is talking about how Vitalik Buterin dumped CULT and SHIB but no one is mentioning that he did it on CoW Swap,&#8221; he <a href=\"https:\/\/twitter.com\/CometCalls\/status\/69904387\" target=\"_blank\" rel=\"noopener nofollow\">said<\/a>, adding:<\/p>\n<blockquote><p><strong>Ready for some real alpha? COW token is at only 7 million market cap, and this is the preferred DEX of Vitalik Buterin.<\/strong><\/p><\/blockquote>\n<p>At press time, the Ethereum price resembled that of Bitcoin &#8211; moving sideways in a narrow range after <a href=\"https:\/\/wncen.com\/news\/bitcoin\/bitcoin-btc-and-ethereum-eth-fall-4-amid-silvergate-fallout\/\" target=\"_blank\" rel=\"noopener \">dropping sharply<\/a> on Thursday.<\/p>\n<figure id=\"attachment_522075\" aria-describedby=\"caption-attachment-522075\" style=\"width: 3618px\" class=\"wp-caption aligncenter\"><img data-recalc-dims=\"1\" loading=\"lazy\" decoding=\"async\" class=\"wp-image-522075 size-full\" src=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=3618%2C1605\" alt=\"Ethereum price ETH\" width=\"3618\" height=\"1605\" srcset=\"https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?w=3618 3618w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=460%2C204 460w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=860%2C382 860w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=768%2C341 768w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=1536%2C681 1536w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=2048%2C909 2048w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=750%2C333 750w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?resize=1140%2C506 1140w, https:\/\/wncen.com\/wp-content\/uploads\/2023\/03\/ETHUSD_2023-03-07_09-49-38.png?w=3000 3000w\" sizes=\"(max-width: 1000px) 100vw, 1000px\"><figcaption id=\"caption-attachment-522075\" class=\"wp-caption-text\">ETH price, 4-hour chart | Source: <a href=\"https:\/\/www.tradingview.com\/chart\/uD28avrX\/\" target=\"_blank\" rel=\"noopener nofollow\">ETHUSD on TradingView.com<\/a><\/figcaption><\/figure>\n<div class=\"disclaimer-shortcode\">Featured image from Forbes, Chart from TradingView.com<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Ethereum co-founder Vitalik Buterin caused a stir in the crypto community today, but not with a tweet, but with the sale of several unknown meme coins. Both on-chain data provider Lookonchain and blockchain security company PeckShield have reported the transactions. Lookonchain revealed via Twitter on March 7 that Vitalik Buterin is selling off &#8220;his free shitcoins.&#8221; So far, the Ethereum co-founder has sold 50 billion MOPS for 1.25 ETH (about $2,000), 10 billion CULT for 58 ETH (about $91,000) and 500 trillion SHIK for 380 ETH (about $600,000). 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 &mdash; Lookonchain (@lookonchain) March 7, 2023 Security firm PeckShield Alert reported via Twitter that CULT (Cult DAO) has fallen 13.7% since the dump by Buterin. SHIK (SHIKOKU) has been hit even harder, falling -95.8%. The SHIK address tagged with Vitalik Buterin has netted around 164 ETH (around $260,000) and transferred 214 ETH (around $337,000) to EthDev. According to Etherscan, the address belongs to the Ethereum Foundation and currently has an Ethereum balance of 336,271.54 ETH, worth about $528.18 million. Related Reading: Ethereum Price Breaking This Single Level Will Spark a Steady Increase Remarkably, Buterin has not sold all of his CULT tokens. As crypto Twitter noted, the Ethereum co-founder still owns 10 billion CULT. &#8220;Didn&#8217;t sell all his CULT tho. Guess he&#8217;s holding 10bn as a moon-bag,&#8221; one user said. Crypto Twitter Reacts To Sales From Ethereum Co-Founder The crypto community on Twitter has been mostly disappointed by the action of Ethereum mastermind Buterin. The backdrop is that altcoins were largely illiquid cryptocurrencies, and thus the dump had a massive impact on low-value projects and the investors who own them. Others are upset with projects sending Vitalik free tokens. Meanwhile, Buterin&#8217;s motivations for selling the altcoins are unknown. One user stated that this seems like a strange move, as Buterin is well aware that his sales will have a massive impact on prices. One theory is that his accountant warned him that these tokens would count as income on his tax return, which is why he sold the tokens to cover the costs. Related Reading: Ethereum In An \u2018Obvious Accumulation Range Of All Time\u2019 \u2013 Preparing For $5,000? Another theory is that Buterin is fully aware of the impact, as evidenced by the fact that he has done this several times before with other free altcoins. On the Lex Fridman podcast, Buterin explained once that he could put the money to better use elsewhere. In these cases, he has donated the funds, as was the case with Shiba Inu (SHIB), for example. Buterin Reveals His Favorite DEX? Meanwhile, another user has pointed out that Buterin may have once again revealed his favorite DEX with the transfers. &#8220;Everyone is talking about how Vitalik Buterin dumped CULT and SHIB but no one is mentioning that he did it on CoW Swap,&#8221; he said, adding: Ready for some real alpha? COW token is at only 7 million market cap, and this is the preferred DEX of Vitalik Buterin. At press time, the Ethereum price resembled that of Bitcoin &#8211; moving sideways in a narrow range after dropping sharply on Thursday. Featured image from Forbes, Chart from TradingView.com<\/p>\n","protected":false},"author":571,"featured_media":522074,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[13625],"tags":[11623,8323,1946],"class_list":["post-522072","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-ethereum","tag-buterin","tag-eth","tag-ethereum"],"acf":[],"yoast_head":"\n<title>Ethereum Founder Buterin Dumps These Meme Coins<\/title>\n<meta name=\"description\" content=\"Ethereum co-founder Vitalik Buterin caused a stir in the crypto community today, but not with a tweet, but with the sale of several unknown meme coins.\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" 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Through his extensive work with wncen.com and Bitcoinist.com, Jake has become a trusted voice in the crypto community, guiding newcomers and seasoned enthusiasts alike towards a deeper understanding of this dynamic field. His mission is simple yet profound: to demystify Bitcoin and cryptocurrencies and make them accessible to everyone. With a professional career in the Bitcoin and crypto scene that began right after graduating with a degree in Information Systems in 2017, Jake has immersed himself in the industry. Jake joined the NewsBTC Group in late 2022. His educational background provides him with the technical prowess and analytical skills necessary to dissect complex topics and present them in an understandable format. Whether you are a casual reader curious about Bitcoin or an investor seeking to navigate the latest market trends, Jake\u2019s insights offer valuable perspectives that bridge the gap between complex technology and everyday usage. 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His advocacy is not about opposition but about evolution, about laying the groundwork for a system that prioritizes transparency and equity over secrecy and inequality. As a journalist, Jake\u2019s articles are crafted with the precision of a scholar and the passion of a true believer. He provides not only news but also thoughtful analysis that connects the dots between daily developments and larger economic theories. His work is a beacon for those lost in the technical jargon often associated with crypto discussions, illuminating the practical implications and benefits of these technologies. In summary, Jake Simmons is not just reporting on a revolution; he wants to be part of it, fully committed to enhancing public understanding and adoption of Bitcoin and cryptocurrencies. His work is more than just a collection of articles; it\u2019s a resource, a guide, and a companion for anyone ready to explore the potential of this digital frontier. Whether you are taking your first steps into crypto or are a veteran looking to stay on top of the latest trends, Jake\u2019s insights provide clarity and foresight in an often unpredictable industry. Join him on this journey to reshape the world of finance, one post at a time. 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