Vitalik Buterin Sells 5K DHN, Price Crashes 50%
Vitalik Buterin sold 5,000 DHN for 65.19 ETH, triggering a 50% price drop. He still holds 5,000 DHN worth $114.6K.
- Vitalik sold 5,000 DHN for 65.19 ETH ($124K).
- DHN price dropped ~50% post-sale.
- He still holds 5,000 DHN worth $114.6K.
Vitalik Buterin’s DHN Sell-Off Shakes Market
In a surprising move, Vitalik Buterin, co-founder of Ethereum, sold 5,000 DHN tokens for 65.19 ETH (approximately $124,000) just an hour ago. The sale was significant enough to trigger a nearly 50% drop in DHN’s price, sending shockwaves through the crypto Market.
Vitalik originally received 10,000 DHN for free from Dohrnii Labs’ Treasury on January 29, making this sale the first half of his holdings. According to Blockchain data, he still retains 5,000 DHN, now valued at $114,600, despite the sharp price correction.
Market Reaction and Community Buzz
Vitalik’s transaction was quickly flagged by @spotonchain, a popular crypto analytics platform, which noted the sell-off and its immediate impact. Crypto communities reacted swiftly, debating the implications of such large token gifts to influential figures and how their decisions affect token prices.
The sale raises questions about token distribution strategies and transparency within new projects. While some defend the practice of sending tokens to prominent individuals to gain visibility, others criticize it for creating market instability, especially when recipients liquidate assets suddenly.
Investors are now closely watching Vitalik’s remaining 5,000 DHN, speculating whether he will hold or sell the rest, which could lead to further market volatility.
