Vitalik Buterin is on a selling spree of the shitcoins in exchange for Ethereum that is said to have gotten as gifts.
Highlights
- Vitalik Buterin sold 50 billion MOPS tokens for 1.25 ETH, roughly $2,000.
- Also traded out 500 trillion SHIK tokens for 380 ETH, about $600,000, and 10 billion CULT tokens for 58 ETH.
- Vitalik even transferred 214 ETH to an EthDev address.
- The one exception is MOPS, which increased by 1000% in the past 24 hours amid the shitcoin dump.
- Most shitcoins have a small market cap, and this depletes their liquidity and causes a sharp price decline.
- BITE fell by 7%, CULT by 7.5%, and SHIK by 60%.
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