Ethereums co-creator, Vitalik Buterin, liquidated some complimentary digital currency, triggering a turbulent journey for a specific memecoin. MicroStrategy mocked for Bitcoin profits
Buterin seemingly unloaded 5,000 DHN tokens, acquired at no cost back in January, on Uniswap in exchange for a substantial $125,000 in ETH. This action promptly plummeted the value of DHN by half.
Even after the transaction, Buterin is still possessing another 5,000 DHN tokens, valued at approximately $114,600.
The Dohrnii group contacted Buterin on X (previously Twitter), requesting that he sell his outstanding tokens directly to them to avert additional market downturns. As of now, Buterin has not responded publicly.
Following the divestment, there was a slight rebound, and DHN is presently being traded at around $40. Nevertheless, the occurrence has sparked worries regarding the coin’s validity, with certain individuals blaming the creators for market deceit.
One X user emphasized that DHN’s value seems to be intensely governed by the project’s originators, who wield complete authority over the liquidity aggregation. They also interrogated the project’s basics, observing that an instructional application with merely 1,000 downloads somehow granted DHN a $17 billion market capitalization, with below $1 million in liquidity.
Dohrnii characterizes itself as an “instructional instrument” intended to render financial learning reachable to all.
Initially, it looks as if they are attempting to disturb the financial instruction sphere with some cutting-edge technology – distributed ledger, game-based incentivization, the entire kit and caboodle. They assert it will transform tutoring, but they do not truly delve into the fine points of precisely how it all functions. It is all fashionable terminology and grand assurances, but deficient in particulars.
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