The sudden selling off of digital assets by Ethereum co-creator Vitalik Buterin has caught the attention of the crypto community. Buterin has been seen selling off a variety of digital assets, including Neiro (NEIRO) and other memecoins, according to market analytics platform Arkham Intelligence.
Reports indicate that Buterin sold off Dogecoin (DOGE) and several other smaller market cap digital assets on Monday. On-chain analyst EmberCN provided a list of the assets sold by Buterin, totaling nearly $1 million. Some of the notable sales include 70 million Neiro for $74,095 and 92,000 DOGE for $35,233.
EmberCN suggests that Buterin might be consolidating his holdings to make donations to his charity, Kanro. Kanro is a biotech charity established by Buterin to address issues related to COVID-19 and other pandemics. This is not the first time Buterin has been seen selling off digital assets to support Kanro. In October, he reportedly sold around $340,000 worth of meme coins in just half an hour.
The move by Buterin has caused some tokens to experience a sharp decline in value, especially those with small market capitalization and poor liquidity. For example, DINU fell by 68% and SHIB fell by 38%.
The crypto community is closely watching Buterin’s actions and the impact they may have on the market. It is evident that his involvement in selling off digital assets for charitable purposes is making a significant impact. Stay tuned for more updates on this developing story.
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