Ethereum co-founder Vitalik Buterin recently made headlines after selling six memecoins, accumulating 257.11 ETH, valued at $633,000, in just 50 minutes.
Buterin has a history of selling memecoins for charitable donations, and this time seems to be no different.
The memecoins sold by Buterin include:
– 330K $MSTR, worth $281,000, sold for 114 ETH
– 14M $POPCAT, worth $185,000, sold for 74.98 ETH
– 14B $ITO, worth $90,000, sold for 36.55 ETH
– 1.05M #ETH6900, worth $37,800, sold for 15.37 ETH
– 50.5B $SATO, worth $27,900, sold for 11.34 ETH
– 10B $Milo, worth $11,700, sold for 4.77 ETH
Vitalik Buterin (@VitalikButerin) acquired 257.11 $ETH ($633K) by selling 6 #memecoins in the past 50 minutes!
The 6 memecoins that he sold include:
• 330K $MSTR ($281K) for 114 $ETH
• 14M $POPCAT ($185K) for 74.98 $ETH
• 14B $ITO ($90K) for 36.55 $ETH
• 1.05M #ETH6900… https://t.co/p8fctn81oV pic.twitter.com/GSP0GZslb5— Spot On Chain (@spotonchain) October 12, 2024
Buterin Memecoin Sell-Off, Profits To Go Into Charity
This significant liquidation of memecoins comes amid a week in which Buterin has been selling various meme-based assets, with much of the proceeds expected to be directed toward charitable causes, continuing his long-standing philanthropic efforts.
Meanwhile, on October 11, the Ethereum spot ETF saw a net outflow of $97,100. This contrasts with the increased activity from Buterin and other Ethereum whales, who have been making high-profile trades and transactions in recent weeks.
On October 11, the total net inflow of Bitcoin spot ETFs was $254 million. The inflow of Fidelity ETF FBTC was $117 million, and the inflow of ARKB was $97.5837 million. The net outflow of Ethereum spot ETF was $97,100. https://t.co/59u0BnEqLG
— Wu Blockchain (@WuBlockchain) October 12, 2024
Buterin’s actions signal not only a shift in his portfolio but also his ongoing dedication to using his wealth for good causes. The crypto community will likely keep a close eye on how these funds are allocated and whether his latest sales will once again benefit charitable organizations. As the memecoin market fluctuates, Buterin’s involvement showcases his influential role in the broader crypto ecosystem, particularly in using crypto assets to support charitable efforts.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!
Image Source: peshkov/123RF // Image Effects by Colorcinch
