The price of Dohrnii (DHN) took a sharp 50% plunge after Ethereum co-founder Vitalik Buterin sold a significant portion of the tokens he received for free, exchanging them for $125,000 worth of Ethereum (ETH).
Vitalik Buterin’s Sell-Off Triggers Market Shock
On March 18, on-chain monitoring platforms revealed that Buterin offloaded 5,000 DHN on Uniswap, triggering a massive price drop. Despite the sale, he still holds another 5,000 DHN, currently valued at approximately $114,600. According to Spot On Chain, Buterin initially received the tokens for free from Dohrnii Labs’ treasury on January 29.
The swift decline in DHN’s price prompted Dohrnii Labs to reach out to Buterin via X (formerly Twitter), offering to buy out his remaining DHN in an over-the-counter (OTC) deal to prevent further market fluctuations.
“Hey @VitalikButerin, we’d love to buy out your $DHN in an OTC deal to minimize market fluctuations from future sales.” – Dohrnii Labs (@Dohrnii_io) March 18, 2025
As of now, Buterin has not made any public statements regarding the offer.
Price Rebounds but Concerns Linger
Following the sell-off, a buyback effort was recorded, and DHN’s price managed to recover to previous levels, now trading at $40, according to crypto price aggregators. However, the sudden price volatility has sparked concerns over the token’s legitimacy.
Accusations of Manipulation Surface
Amid the controversy, some market participants have alleged that Dohrnii’s price is heavily manipulated by its developers. A user on X pointed out that the project’s creators control the liquidity pool, raising red flags about its transparency.
“An educational app with only 1,000 downloads somehow pumped DHN’s market cap to $17 billion, but has liquidity less than a million. This whole thing is a joke.” – @Nepalikanchhaa
Dohrnii’s Lack of Transparency
According to its one-page whitepaper, Dohrnii claims to be an “educational tool” designed to make financial education more accessible. It advertises the use of blockchain, learn-to-earn mechanisms, and gamification to improve financial literacy. However, critics have noted the whitepaper lacks technical details, making it difficult to verify the project’s actual utility.
What’s Next for Dohrnii?
With ongoing scrutiny and allegations of manipulation, Dohrnii faces a credibility crisis despite its recent price recovery. Investors and analysts are closely watching whether Buterin will accept the OTC deal or offload his remaining holdings on the open market—a move that could trigger another wave of volatility.
For now, uncertainty remains high, and Dohrnii’s future hinges on whether it can address concerns about liquidity and project legitimacy.
