Vitalik Buterin Sells His MoonDAO Tokens

Vitalik Buterin

The Ethereum co-founder, sold his $MOONEY tokens on Uniswap. This is per an update from Peckshield Alert posted on the platform’s channel on Friday, August 5. The release said that Buterin offloaded 200,000 units of MoonDAO tokens as seen from Etherscan txid, etherscan.io/tx/0xffbfa58d2818293383592f851c8ecc5487029c0134f094759ba842596ad40e3f

The post by Peckshield Alert says that the price of the token dropped as a result of the sale by Buterin. A look at the MoonDAO market chart shows that the coin is presently trading at $0.003725, down by 19.4%. The Peckshield update reports that after Buterin sold his coins, the price of $MOON dropped by 45%.

In their response, a Twitter user, Morgan J. Weaver wondered why the Ethereum co-founder is selling off some of his crypto assets, eliciting several answers from users. While some said that it’s a sign that crypto winter is not yet over, others say that Buterin could be broke.

One user, BTC Mix, called the Moon token a crappy coin and said that Buterin was right in dumping it, while Daily News Crypto called the MoonDAO garbage project.

MoonDAO is a decentralized project that intends to make it easy for people to travel to space. In a recent update on the website, the team wrote that:

“MoonDAO has purchased two tickets to space with Blue Origin. Our members voted with $MOONEY to select Dude Perfect for one of the tickets, and selected another MoonDAO member at random with our Ticket To Space NFT Collection.”

Ranked number 3236, MOONEY has a fully diluted market capitalization of $9.2 million and a 24 hour trading volume of $422k.

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Author: Jofor Humani

Jofor is a crypto journalist with passion for investigative review of projects with the aim to determine the authenticity of their claims.

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