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News

Vitalik Buterin Acquired $ 700,000 By Selling A Series Of “Free” Coins

March 7, 2023 - Around 3 mins mins to read
Key Points:
  • Today’s “free” coins strongly sold by Vitalik Buterin include CULT, SHIK, MOPS, and more.
  • When launching a startup using a token, founders are known to send a portion of the total token supply to Vitalik’s wallet address.
As recorded by on chain data, there are numerous tokens have been sold by Vitalik Buterin today. 
Vitalik Buterin Acquired $ 700,000 By Selling A Series Of “Free" Coins

Vitalik Buterin, the inventor of Ethereum, recently sold a huge number of “free” currencies, including CULT, SHIK, MOPS, and others, for around 700,000 USD. Because of this drop, the price of SHIK fell by more than 95%. Vitalik Buterin is the well-known creator of Ethereum, the core technology that underpins numerous other projects. Founders who develop a project with a token available will occasionally send a part of the total token supply to Vitalik’s wallet address.

This gesture might be seen as “thanks” or as an attempt to grab the attention of the community, which has always followed Vitalik’s wallet address. It might also imply demonstrating that this project will run smoothly. Maybe the most notable example is when Shiba Inu (SHIB) handed him 50% of the total supply of SHIB, explaining in the whitepaper that the goal was to remove those tokens from circulation. SHIB quickly increased by more than 100%, generating a profit of $8 billion for Vitalik. Because the community assumed the Ether founder was uninterested in these “free” coins, he chose to SHIB to gather funds for COVID aid in India. The man further stated that if he continues to get coins, he may sell them to benefit charities.

Vitalik Buterin Acquired $ 700,000 By Selling A Series Of “Free" Coins

Yet, these “warnings” appear to have had little effect on the other project founders. They are still transferring tokens to his wallet. Vitalik then sold a huge quantity of these “airdrop” coins today, March 7, 2023. According to on-chain data, the young founder sold the following tokens: 

  • 50 billion dog memecoin tokens MOPS for 1.25 ETH (approximately 2,000 USD).
  • 10 billion Cult DAO project tokens (CULT) for 58 ETH (approximately 91,000 USD); 
  • 500 trillion Shikoku Inu dog memecoin tokens (SHIK) for 380 ETH (approximately $600,000 USD). 

The above 500 trillion SHIK is half of the Shikoku Inu project’s entire supply. This project, like the previous Shiba Inu, sends half of the total supply to the Ethereum inventor and “calls” him to burn it.

DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.

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