The co-founder of the world’s second-largest blockchain has made several swaps for some of the alternative coins that were sent to him as gifts over the years.
According to data from the on-chain data resource – Lookonchain – Vitalik Buterin has turned over $700,000 worth of different alts into the native coin of his brainchild – ETH.
- The largest offload came in the form of SHIKOKU (SHIK) – 500T were swapped for 380 ETH worth roughly $600,000. The price of the memecoin plummeted by over 60% shortly after.
- 10B CULT were exchanged for $91K worth of Ether as well, and the former is down by 10% on the day.
- Lastly, Buterin’s address shows a transfer of 10B MOPS for just over one ETH (worth $2,000). According to CoinMarketCap, MOPS – another dog-based memecoin – has skyrocketed by 1,400% in the past 24 hours.
- This is not the first time Buterin has exchanged some of the gifts he has received for ETH. CryptoPotato reported a few years back that he swapped all of the Shiba Inu tokens he had in his account.
- Interestingly, the value of the now second-largest memecoin exploded after that and the amount he swapped was worth almost $30 billion at one point.
- Nevertheless, Ethereum’s co-founder used the proceeds to fund an AI research grant.