"Don't worry, that's why Buterin did that."
The co-founder of the world's second largest blockchain implemented several exchanges through a number of altcoins sent to him as gifts accumulated over the years.
Vitalik Buterin has reportedly converted $700,000 worth of different altcoins to his self-founded cryptocurrency Ethereum (ETH).
500 trillion Shikoku memecoins (SHIK) that were exchanged for 380 ETH worth around $600,000 caused SHIK to plunge over 60% to $0.000000004969 soon after.
While CULT's price was found to have slipped by 10% immediately after the 10 billion digital asset was converted to ETH worth $91,000.
Meanwhile, Buterin's address shows a transfer of 10 billion MOPS for ETH worth $2,000 yet MOPS which is a dog-based memecoin has jumped around 1,400% in the last 24 hours.
For the record, this is not the first time Buterin has exchanged some of the 'gifts' he received with ETH following last year he had acted to exchange all the Shiba Inu (SHIB) he held.
Even so, SHIB which is the second largest memecoin managed to climb after the conversion, where the amount exchanged was worth almost $30 billion.
Please be informed here that Buterin uses his earned profits to fund Artificial Intelligence (AI) research grants.
