Ethereum Co-founder Vitalik Buterin Sells Meme Coins for Over $2.24 Million

Ethereum co-founder Vitalik Buterin has recently sold various meme coins he received for free. According to on-chain analysis, Buterin’s transactions netted him 908.77 Ethereum (ETH), equivalent to approximately $2.24 million at the current price of Ethereum.

Breakdown of Buterin’s Largest Sales

Blockchain data reveals that Buterin sold tokens from several meme coin projects. These digital assets, often launched as jokes, include:

  • 10 billion MOODENG tokens: This sale brought in 395.96 ETH ($976,000).
  • 200,000 MSTR tokens: Sold for 93.23 ETH ($231,000).
  • 500 million EBULL tokens: Sold for 73.79 ETH ($182,000).
  • 15 million Popcat tokens: This sale netted 27.11 ETH ($67,000).

Other notable sales included:

  • 20 billion MILO tokens for 20.75 ETH ($51,000)
  • 11.06 trillion FWOG tokens for 14 ETH ($35,000)
  • 500,000 TCATI tokens for 12.81 ETH ($32,000)
  • 20.35 trillion FWOG tokens for 8.53 ETH ($21,000)
  • 202 million VITALIK tokens 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’s Stance on Meme Coins

This sell-off follows Buterin’s previous statements expressing appreciation for meme coins that donate portions of their supply directly to charity. In a recent tweet, Buterin stated, “I appreciate all the meme coins that donate portions of their supply directly to charity. Anything that gets sent to me gets donated to charity too.”

I’ve said before that I think the best thing for meme coins is if they can be maximally positive-sum for the world, so it’s great to see moments when that actually happens!

Buterin also revealed that a donation of 10 billion MOODENG tokens would be directed towards anti-airborne-disease technology. He emphasized his preference for projects to send donations directly to charities and suggested that communities could create decentralized autonomous organizations to manage charitable giving.

Surge in Meme Coin Values

Buterin’s recent selling spree comes amidst a surge in the value of several meme coins. Despite a slow-paced overall market, meme coins are leading the charge with notable increases in value. Several factors contribute to this rise, including:

  • Market sentiment: A broader crypto market recovery has rekindled investor interest in meme coins.
  • Retail investor interest: Retail traders are driving demand, looking for the next big meme coin success, reminiscent of past surges like Dogecoin (DOGE) and Shiba Inu (SHIB).

Political Price Pumps

As market sentiment improves, traders are looking at meme coins for quick gains, leading to notable price increases among irreverent tokens like Dark Maga and the Department of Government Efficiency (DOGE). Both coins surged by over 100% only to plummet in a matter of days.

Meme coins linked to prominent public figures or political movements often experience price pumps but are also among the most volatile. For instance, tokens like MAGA (TRUMP) have surged following recent events involving public figures like Elon Musk and former President Donald Trump. Over the past 24 hours, the price of TRUMP has moved by -13.18% and is currently at $4.15, with a 24-hour trading volume of $9,192,743. Over the past year, the Trump-inspired token has experienced a 33975.93% change in price.

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