<p>Vitalik Buterin, Ethereum&#8217;s co-founder, has recently engaged in active trading, notably minting DAI and liquidating meme tokens, including Dohrnii (DHN). This activity, tracked via his publicly known wallets, has sparked discussions about his market perspective and the state of certain altcoins. DAI Mint and Strategic Liquidity Buterin&#8217;s wallet executed a single transaction minting 315,382 DAI, &hellip; </p>
<p class="link-more"><a href="https://www.cryptoknowmics.com/news/buterins-wallet-activity-strategic-liquidation-and-dai-mint/" class="more-link">Continue reading<span class="screen-reader-text"> &#8220;Buterin&#8217;s Wallet Activity: Strategic Liquidation and DAI Mint&#8221;</span></a></p>


Vitalik Buterin, Ethereum's co-founder, has recently engaged in active trading, notably minting DAI and liquidating meme tokens, including Dohrnii (DHN). This activity, tracked via his publicly known wallets, has sparked discussions about his market perspective and the state of certain altcoins.<p></p><h2>DAI Mint and Strategic Liquidity</h2><p></p>Buterin's wallet executed a single transaction minting 315,382 DAI, a strategic move to access liquidity from his holdings. DAI, primarily traded on decentralized exchanges (DEXs), serves as a stablecoin within the DeFi ecosystem, offering an alternative to liquidating volatile assets like ETH. Notably, this activity stemmed from his "vitalik.eth" wallet, which, despite holding diverse altcoins, now retains only 772.6 ETH.<p></p><h2>Dohrnii (DHN) Liquidation: Profit and Skepticism</h2><p></p>[embed]https://twitter.com/Dohrnii_io/status/1901872379237700026[/embed]<p></p><p></p>Buterin's most significant recent transaction involved the liquidation of 5,000 DHN tokens for 65.19 ETH, executed via the Rabby exchange. DHN, which experienced a rapid price surge to over $46, has raised concerns due to its illiquidity and potential for artificial inflation. The token's limited exchange listings and the Dohrnii Labs team's control over 85% of the supply have fueled skepticism. Buterin's decision to liquidate DHN, despite the project's attempt at an OTC deal, underscores his cautious stance towards risky ventures. While retaining 5,000 DHN, valued over $200k, his actions halted the token's rally.<p></p><h2>Meme Token Sell-Off and Market Impact</h2><p></p>Beyond DHN, <a href="https://www.cryptoknowmics.com/news/buterin-rejects-casino-trend-ethereum-focuses-on-defi-funding/" target="_blank" rel="noopener">Buterin</a> liquidated various meme tokens, including remnant SHIB holdings, for a total of 71.69 ETH. This consistent selling aligns with his past warnings about liquidating tokens received as promotional gifts, using proceeds for donations. Despite these transactions, Ethereum's price remained largely unaffected, trading around $1,907.56. Buterin's current holdings include KyberNetwork (KNC), valued at $250K, and smaller amounts of other tokens. The activity raises questions about the future of meme tokens on the Ethereum network.

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Buterin's Wallet Activity: Strategic Liquidation and DAI Mint