Vitalik Buterin, co-founder of Ethereum, recently sold 5,000 DHN tokens for 65.19 ETH, leading to a significant drop in its price.
Vitalik Buterin's Recent Transaction
Vitalik Buterin, co-founder of Ethereum, sold 5,000 DHN tokens for 65.19 ETH. This transaction was reported approximately 35 minutes ago according to Onchain Lens data. Following the sale, Buterin still holds 5,000 DHN tokens valued at $113,000.
57% Drop in DHN Price After Buterin's Sale
The immediate effect was a 57% decline in the DHN token price, falling from $38 to $16. This clearly illustrates how large transactions can affect token stability.
Impact of Crypto Influencers on Token Stability
This occurrence is reminiscent of previous instances where significant market moves followed transactions by crypto influencers. It underscores the vulnerabilities within thinly-traded tokens. While the short-term impact is evident, the long-term effects require further observation. Experts suggest monitoring the activities of major token holders for potential volatility markers.
The situation highlights the need to monitor actions by key figures in the crypto space and their impact on market stability.
