Ethereum co-founder Vitalik Buterin sold 28 different meme tokens, netting $984,000 in USDC stablecoins. The proceeds were transferred to the Kanro charity wallet, which is known to be supported by Buterin himself. The transactions were completed within a few hours.
The sale had a significant impact on the market value of some low-liquidity tokens. In particular, the price of DINU fell by 68%, while JSHIBA lost 38% of its value. Such a sharp drop is explained by the small trading volumes and lack of liquidity of these tokens, which makes them especially sensitive to large trades.
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