The co-founder of the world's second largest blockchain has repeatedly exchanged some of the altcoins that have been given to him as gifts over the years.
According to on-chain data resource - LookOnChain - Vitalik Buterin has converted over $700,000 worth of various altcoins into his idea's native token - ETH. The largest load came from Shikoku (SHIK) 500T was exchanged for 380 ETH, worth about $600,000. Shortly after, the price of Memecoin dropped by more than 60%.
10B CULT also exchanged $91,000 worth of ether, down 10% from the previous day.
Finally, Buterin’s address shows that it only takes 1 ETH ($2,000 worth) to transfer 10B MOPS. MOPS another dog-based meme coin is up 1,400% in the past 24 hours, according to CoinMarketCap.
This isn’t the first time Buterin has exchanged some of the gifts he received for ETH. CryptoPotato reported a few years ago that it swapped out all Shiba tokens held in the account.
Interestingly, the value of Memecoin, now number two, has exploded since then, at one point approaching $30 billion in exchange.
Still, the ethereum co-founders used the proceeds to fund AI research.
