BitBoy sells BEN meme for $78,000, surprising fans by clearing cache
Ben Armstrong, a YouTube influencer also known as BitBoy, sold his BEN tokens for 43 ethereum (ETH) less than a week after telling followers he was committed to holding them for six months to make critics “dumb again.”
BitBoy BEN Dumps
On-chain data from May 17 shows the influencer, who rose to fame on YouTube, where he has more than a million followers, dumped all of his BEN holdings in a series of diversions on May 17.
He earned approximately 43 ETH from his transactions, which is worth around $78,000 at current rates.
At present, 16379 users are holding BEN. The price of the token has increased by about 1 percent in the past day.
As the number of holders increased, conversions rose to 103,725, pushing the total market cap to $34,886,097, according to CoinMarketCap data.
Despite BitBoy’s decision to sell, the token is higher against Ethereum (ETH) and Bitcoin (BTC) on the latest trading day.
However, there is a significant drop in trading volumes. CoinMarketCap data shows that average trading volumes more than halved from $16,281,055 on May 14 to $6,164,390 on May 16. This is a significant decrease from the $93,686,642 recorded on May 9.
Looking at the token launched on the Ethereum blockchain, BEN trading volumes are high on Uniswap v3, a decentralized exchange. However, some centralized exchanges, including MEXC and LBANK, have also listed BEN, as it is paired with USDT, the world’s largest stablecoin.
Another meme symbol
On May 8, BitBoy clarified that it did not create BEN but owned the token. Instead, it was created “on behalf of a group in which Ben was DAO and which consisted of all Bens”.
However, BEN remains a token associated with the BitBoy Decentralized Autonomous Organization (DAO) that people can invest in.
BEN has no benefit, except what any other meme token does for its bearer.
The token joins a long list of meme coins similar to Pepe (PEPE) that communities of token holders believe will rise.
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