Analysts report the sale of $700 000 worth of meme tokens by Vitalik Buterin

According to Lookonchain and PeckShield, the Ethereum co-founder sold MOPS, CULT, BITE, and SHIK coins

07.03.2023 - 12:45

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3 min

What’s new? On March 7, blockchain analysts at Lookonchain reported that Ethereum co-founder Vitalik Buterin sold a number of illiquid meme tokens, including MOPS, CULT, BITE, and SHIK. The sale brought in about $700 000 for Buterin, with quotations on some of these assets plummeting by 10%-95%.

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

What else is known? Various tokens are periodically sent to Buterin’s wallet by the project developers themselves. In this, the Ethereum co-founder usually donated the proceeds from the sale of assets. This time, the money was sent to the wallet of Ethereum developers.

According to Lookonchain, Buterin sold 50 billion MOPS for 1,25 ETH ($2000), 10 billion CULT for 58 ETH ($91 000), and 500 trillion SHIK for 380 ETH ($600 000).

The sale of some tokens was also confirmed by experts at cybersecurity company PeckShield. According to their data, Buterin sold about 5 trillion SHIK tokens, getting about 164 ETH ($260 000), and transferred 214 ETH ($337 000) to the wallet of Ethereum developers.

#PeckShieldAlert $SHIK (SHIKOKU) has dropped -95.8%Vitalik Buterin-labeled address has dumped ~5T $SHIK, and gained ~164 $ETH (~260k) and transferred 214 $ETH ($337k) to EthDevhttps://t.co/Uw6TA1RDKP pic.twitter.com/FuIbgGgrdA — PeckShieldAlert (@PeckShieldAlert) March 7, 2023

As a result of these actions, the SHIK token has collapsed by 95,8% and CULT by 10,66%, the price of BITE was almost unchanged and the MOPS token shows growth of 2071% (data from aggregator CoinGecko).

Earlier, the media reported that Buterin closed a seven-month short on the experimental stablecoin RAI, which has no peg to the dollar. The gain on the deal was $92 000 as a result of the drop in the asset’s value paired with DAI.

In October 2022, after Buterin’s joke, the rate of the THE token rose by 119 000%.

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