In the ever-turbulent world of crypto, it seems Vitalik Buterin, the genius behind Ethereum, has once again stirred the pot. Picture this: Buterin offloads 5,000 Dohrnii (DHN) tokens, which he casually received as a freebie from Dohrnii Labs, bagging a cool $124,000. But here's where the drama kicks in—the token's value nosedived by a whopping 50%! Talk about a crypto rollercoaster!
Now, let’s rewind a bit. Mr. Buterin has been sending smoke signals to projects for ages, pleading with them not to throw tokens his way. His take? Just donate to charity, folks! His recent move was spotlighted when a blockchain detective agency revealed that on March 18, Buterin swapped 5,000 DHN for 65 ETH, which is like $124,000 in shiny coins. These tokens were part of a 10,000 DHN stash gifted to him by Dohrnii Labs at the end of January. Classic strategy—send tokens to crypto celebs and hope for some clout.
The aftermath? DHN’s price took a wild dive from $38.505 to a shocking $20.699 before bouncing back to around $39.75. Even with a recent 11% dip over the week, it’s been living the dream with a mind-blowing 3,400,535.6% surge over the year. Yes, you read that right!
But wait, there’s more! Buterin’s still got another 5,000 DHN tokens tucked away, valued at nearly $190,000 today. Dohrnii Labs is now stepping in, offering to broker an over-the-counter deal for these tokens to avoid more market drama.
Vitalik’s been pretty vocal about his token-dumping philosophy, urging projects to channel their generosity towards good causes. And he practices what he preaches—in August 2024, he sent $530,000 worth of meme coins to a welfare fund. Later that year, he cashed out over $1 million in these quirky coins, donating the proceeds to various charities.
Despite whispers of him offloading massive Ethereum holdings, Buterin's made it clear that it's all about philanthropy. He's even suggested setting up decentralized autonomous organizations (DAOs) to make the donation process a community affair.
His final word? Let meme coins do good in the world. When they make a positive splash, it’s a win-win, and that's something even Vitalik can appreciate!
