Ethereum Founder Vitalik Buterin Sells Three Altcoins, Onchain Data Shows

Ethereum (ETH) founder Vitalik Buterin continues to sell off low-volume altcoins sent to his wallet.

Over the past two days, Buterin sold a total of 114,500 KNC, 30.57 million STRAYDOG, and 1.05 billion MUZZ, receiving 32,560 USDC and 1.89 ETH in return. The total value of the sales was approximately $38,000.

It is known that most of these altcoins are tokens that developers sent to Vitalik Buterin for free in order to attract attention and gain visibility. Buterin has also periodically sold similar tokens in the past, and these sales have generally not created significant pressure on the market.

According to on-chain data, the total asset value of the 10 addresses controlled by Buterin is approximately $725 million. While Ethereum (ETH) constitutes the majority of the portfolio, the wallet also contains other assets such as Aave V3 WETH, WHITE, MOODENG, and KNC.

Buterin’s biggest sale was donating his billion-dollar SHIB assets to a hospital in India.

*This is not investment advice.