Vitalik Buterin Sells Meme Coins Worth $2.24 Million
Ethereum co-founder Vitalik Buterin recently made headlines by selling various meme coins he received for free. According to on-Chain analysis by Lookonchain, Buterin's recent transactions netted him 908.77 Ethereum (ETH), equivalent to approximately $2.24 million at the current Ethereum Price.
Buterin's Largest Sale
The Blockchain Data reveals that Buterin sold Tokens from several meme Coin projects, which are Digital assets launched explicitly as a joke. The largest sales came from 10 billion MOODENG tokens, which brought in 395.96 ETH ($976,000).
Other notable sales included:
- 200k MSTR for 93.23 ETH ($231,000)
- 500 million EBULL for 73.79 ETH ($182,000)
- 15 million Popcat (POPCAT) for 27.11 ETH ($67,000)
- 20 billion MILO for 20.75 ETH ($51,000)
- 11.06 trillion FWOG for 14 ETH ($35,000)
- 500k TCATI for 12.81 ETH ($32,000)
- 20.35 trillion FWOG for 8.53 ETH ($21,000)
- 202 million VITALIK for 5.49 ETH ($14,000)
- 14 billion ITO tokens for 36.55 ETH ($90,000)
- 1.05 million ETH6900 tokens for 15.37 ETH ($38,000)
- 50.53 billion SATO tokens for 11.34 ETH ($28,000)
Buterin Appreciates Meme Coins
Despite selling off these meme coins, Buterin has previously stated his appreciation for meme coins that donate portions of their supply directly to charity. In a recent tweet, Buterin mentioned that any tokens sent to him get donated to charity as well.
He also stressed his preference for projects to donate directly to charities and even suggested the Creation of Decentralized autonomous organizations for charitable giving.
Buterin's commitment to using Cryptocurrency for social good has been a consistent theme in his advocacy for meme coins.
Meme Coin Selling Spree
Buterin's recent selling spree of meme coins coincides with a Surge in the value of these tokens. Despite a slow overall Market, meme coins have been leading the charge with significant price increases.
Factors contributing to this rise include market sentiment and a broader Crypto Market recovery known as "Uptober" that has reignited investor interest in meme coins. Retail traders are driving much of the demand, seeking the next big meme coin success.
Political Price Pumps
As market sentiment improves, traders are turning to meme coins for quick gains, resulting in notable price increases among tokens linked to public figures or political movements. These coins, such as Dark Maga and Department of Government Efficiency (DOGE), have experienced surges of over 100%, only to drop rapidly.
Tokens like MAGA (TRUMP) have seen price pumps following recent events involving public figures like Elon Musk and former President Donald Trump. However, these coins are also among the most volatile in the market.
For instance, TRUMP Token's price has recently experienced a -13.18% change in the past 24 hours and is currently trading at $4.15. The 24-hour trading volume for MAGA stands at $9,192,743 with a notable price change over the past year.
