Vitalik Buterin’s Neiro Sale Triggers 60% Price Drop

On-chain data reveals that on August 5, Vitalik Buterin made a significant sale of the meme coin Neiro. Buterin sold 17.1 billion Neiro from his wallet in exchange for 44 ETH. This amount represented 4% of the total Neiro supply.

These Neiro assets were transferred to Buterin’s wallet by the team, which promoted the move as a “coin burn.”

Neiro Drops 60%

Buterin’s sale caused the price of Neiro to drop by 60%.

Large sales by prominent figures in the cryptocurrency market often lead to significant market fluctuations. Transactions by well-known individuals like Vitalik Buterin are closely monitored by market participants, and such large movements typically result in sudden price changes.

As a result, the decline in Neiro’s value following Buterin’s sale highlights the high volatility and market sensitivity in the cryptocurrency space. Investors are reminded to be cautious and closely monitor market movements in response to such major sales.