An address linked to Ethereum co-founder Vitalik Buterin has sold off huge chunks of meme coins Doberman (DOBE) and DOJO.
Blockchain security and intelligence platform PeckShieldAlert spotted the transactions. According to the insights shared, a total of 100,000,000,000,111.11 DOBE tokens and 1,858,140,000,000 DOJO were featured in the token swapping.
#PeckShieldAlert Vb (#Vitalik)-labeled address swapped 100,000,000,000,111.111 $DOBE for 10.44 $ETH (worth ~$22.9K) and swapped 1,858,140,000,000 $DOJO for 3.12 $ETH (worth ~$6.8K) pic.twitter.com/7PAId1I8sy
— PeckShieldAlert (@PeckShieldAlert) December 21, 2023
Vitalik Buterin on Memecoin Liquidations
Over the years, memecoins looking for relevance in the industry sent some quantity of their token’s supply to Vitalik Buterin’s public wallet address for legitimacy proof.
Soon, this wallet harbored millions of dollars worth of memecoins with no restrictions on how Vitalik could liquidate them.
The liquidations of DOBE and DOJO mark two of the selloffs signed by Vitalik in recent times. According to the PeckShieldAlert update, the address swapped the 100,000,000,000,111.11 DOBE for 10.44 ETH worth approximately $36,228.60 at the time he initiated the transaction.
The DOJO liquidations saw the Vitalik-linked address secure a total of 3.1258 ETH from the 1,858,140,000,000 tokens sent.
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From the PeckShieldAlert insight, the Vitalik Buterin-linked address carried out the transactions using the Uniswap V2 engine with Wrapped Ethereum (WETH) providing the liquidity pathway for the liquidations.
Regular Buterin-Linked Transfers
As reported earlier by The Crypto Basic, Vitalik Buterin moved the sum of 2,000 ETH worth approximately $3.1 million in September to an address with a history of depositing to Bitstamp.
Other high-profile transfers have also been recorded. In a bid to water down the growing speculations surrounding some of his transfers, Vitalik Buterin denied selling some 3,000 ETH in November last year to prove that not all affiliated transactions are best described as liquidation tools.
While selloff is the easy explanation for some of these transfers, the movement of funds to affiliated research entities and collaborative partners also forms a major motivation behind some of the Vitalik-linked transfers.