As a seasoned crypto investor with over a decade of experience under my belt, I find Vitalik Buterin’s recent selling spree of meme coins both intriguing and commendable. While it’s always a bit unsettling to see such large sell-offs, especially when they involve popular meme coins like MOODENG, it’s heartening to know that the proceeds are being donated to charity.
As a researcher, I’m sharing an update about Vitalik Buterin, the co-founder of Ethereum. He has recently decided to sell approximately $1.6 million worth of meme coins from his personal holdings. Instead of keeping these meme coins, he plans to convert them into ETH ($2,526 at the time of writing), which comes with a 24-hour volatility of 2.5%. At the moment, Ethereum has a market cap of $304.12 billion and a 24-hour trading volume of $13.53 billion. After the transaction, he intends to donate these Ethereum proceeds to charity, as previously pledged.
According to Spot on Chain’s report, a sale was made involving $982,800 worth of MOODENG, the meme coin inspired by hippos that has been gaining popularity. This transaction has led to a 5.36% decrease in MOODENG’s price due to the selling pressure initiated by Buterin.
Moreover, it was disclosed that Vitalik Buterin, the co-founder of Ethereum, made transactions selling approximately $231,000 worth of Monsterra (MSTR) and $183,000 worth of ETHEREUM IS GOOD (EBULL). In smaller amounts, he also divested holdings in Fwog (FWOG), vitalek buteren (VITALIK), and Popcat (POPCAT).
For the past nine days, as a researcher observing the cryptocurrency market, I’ve noticed that Vitalik Buterin has exchanged approximately $2.78 million of meme coins for Ether and donated around $884,000 to various charities, as per Spot On Chain’s report from October 13th.
Vitalik Buterin (@VitalikButerin) sold 8 more #memecoins for 651.6 $ETH ($1.62M) in the past hour!
They include:• 10B #MOODENG ($982K) for 395.95 $ETH• 200K $MSTR ($231K) for 93.23 $ETH• 500M $EBULL ($183K) for 73.79 $ETH• 15M $POPCAT ($67.2K) for 27.11 $ETH• 31.4T…
— Spot On Chain (@spotonchain) October 13, 2024
Vitalik Buterin thanked those who issued meme coins for facilitating these charitable contributions and recommended they think about donating directly in the future. On October 7, Buterin announced on Twitter that he had given away all 10 billion tokens of the meme coin he received to an organization specializing in anti-airborne disease technology.
Back in August of this year, the co-creator of Ethereum decided to sell off all the cryptocurrencies themed around animals that he had acquired over the past twelve months. After making a profit from these sales, he generously donated the earnings to the “Animal Welfare Fund” within the Effective Altruism Funds organization.
Vitalik Buterin Crypto Portfolio Still Has Meme Coins
The Ethereum co-founder’s entire cryptocurrency holdings continue to surpass a value of $700 million. This includes investments in meme coins like MOODENG tokens worth approximately $2.4 million, along with $117,000 in MSTR, $144,000 in Neiro (NEIRO), and around $80,000 in Degen (DEGEN).
Previously, Buterin has contended that meme coins could have a constructive role in society by financing vital public initiatives and offering income possibilities for individuals residing in economically disadvantaged nations. Nevertheless, he’s not fond of meme coins centered around celebrities, as they mainly aim to enrich the celebrities and initial investors.
Meanwhile, various market influencers have put forth Vitalik Buterin’s name as a potential candidate for the Nobel Prize in Economics in 2024. Economist and co-founder of Ethereum, Tyler Cowen, has suggested this nomination.
As a researcher or analyst, I find myself reflecting on Vitalik’s groundbreaking work. He’s constructed a robust platform, Ethereum, and within that process, seemingly debunked Mises’ regression theorem. This work echoes the pioneering steps taken by Satoshi Nakamoto in creating Bitcoin. Yet, one can’t help but wonder: What extraordinary feats must be accomplished to receive a Nobel Prize?
Conversely, economist Alex Tabarrok shared similar thoughts, indicating that “Vitalik has significantly influenced the development of Ethereum’s system structure by moving it towards a proof-of-stake model.
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2024-10-14 12:42