Vitalik Buterin again sold stocks of “dog coins” – Bits Media

Ethereum Co-Founder Vitalik Buterin Sells Dog Coin Stocks Again, which continue to arrive in his wallet. Total crypto assets sold on $1.8 million.

Previously, Buterin had already asked the creators of various tokens to refrain from making gifts to his wallet.. In his opinion, It’s better for developers to immediately donate tokens to charity. Despite this, coins continue to flow into Buterin’s wallet. Therefore, he sold tokens of several “dog” projects, such as Aidi Inu, Small Doge, Jejudoge, Baby Shiba, Kishu Inu и HuskyToken.

To sell crypto assets, the co-founder of Ethereum used the decentralized exchange Uniswap. Before the sale, the total value of the tokens was $4.3 million, but due to a lack of liquidity, their rates dropped significantly, therefore Buterin received only $1.8 million. The Baby Shiba crypto asset fell the most - its rate collapsed immediately by 73%.

Buterin spent part of the proceeds on the purchase and destruction of the UBI token. He bought 8% current market supply of UBI in the amount $200 000 and “burned” them. The UBI token belongs to the Proof of Humanity project, aimed at providing “unconditional income” to every person, who has confirmed his identity.

Note, that after the success of Dogecoin and Shiba Inu, a boom in “dog coins” began on the market. The creators of such projects send tokens to Buterin in the hope of attracting attention to the crypto asset. Recall, that Buterin invested in Dogecoin back in 2016 year. He bought DOGE coins at $25 000, and subsequently received more $4 million profit.