• Ethereum co-founder Buterin sold 5,000 DHN tokens for 65.19 ETH (about $124,000), which moved the token price.
• After Buterin’s sale, DHN’s price took a big dive, dropping 50%, but it’s been bouncing back a bit since then.
• Even after selling, Buterin still has 5,000 DHN tokens left, now worth around $114,600, potentially influencing future market moves.

Vitalik Buterin, you know, one of the masterminds behind Ethereum, recently sold off 5,000 DHN tokens, and it really shook things up in the token’s market. This sale saw Buterin trade his DHN stash for 65.19 ETH, which at the time was valued at approximately $124,000.

The Sale and Its Ripple Effect on the Market

The buzz started on X, where Spot On Chain mentioned that Buterin originally got 10,000 DHN tokens dropped into his wallet for free by Dohrnii Labs’ Treasury back on January 29th. Even after this sale, Buterin is still holding onto 5,000 DHN tokens, estimated to be worth about $114,600 at today’s prices. This dip in value just goes to show how sensitive the market can be, especially when someone as influential as Buterin makes a significant move.

Once the transaction went through, the token’s value really felt the impact, taking a nosedive. It’s a pretty common reaction in the crypto markets – big transactions like this can often lead to substantial price drops, and DHN saw a dramatic 50% decrease. This whole episode really puts the spotlight on how much sway major figures can have on a token’s market behavior and price stability.

What Buterin’s Still Holding

Despite the sale that caused quite a stir, Buterin still actually holds a significant chunk of DHN. His remaining 5,000 tokens still represent a pretty sizable market value of $114,600. This means he’s still a noteworthy holder, and depending on what he decides to do with these remaining tokens, we could see further ripples in the market.

Checking in on DHN’s current market performance as we’re writing this, CoinMarketCap is showing the price at $40.31, which is a slight uptick of 1.54% over the last day. The market cap is currently at $688.31 million, also indicating a small increase of 1.46%.

When we look at trading activity, the last 24 hours saw a volume of $14.28 million, a 15.08% jump. There are currently 17.07 million DHN tokens in circulation, with a total and max supply capped at 372 million. You can clearly see the sharp price drop we talked about, with the token now attempting a recovery to around that $40.31 level.