Once more, Vitalik Buterin, a key figure in Ethereum, has sparked conversation within the cryptocurrency scene following his latest news headlines about significantly selling off meme coins.
As per a recent update from Ember monitoring, it’s been indicated that Buterin has offloaded approximately 28 distinct meme tokens within the last five hours. This sale is said to have yielded him around $984,000 in USDC, which he has subsequently transferred to Kanro, his charitable organization’s designated address.
The sales encompassed:
– 500 trillion dollars worth of DINU (equivalent to $13,208)
– 50.48 billion dollars worth of ESTEE (equivalent to $116,306)
– 92,000 units of DOGE (equivalent to $35,233)
– 80.47 trillion JSHIBA tokens (equivalent to $21,466)
– 698,000 OMIKAMI tokens (equivalent to $27,895)
Furthermore, tokens such as FREE, DOBE, PLUTO, and MONKEYS were also sold off.
Buterin Continues Philanthropic Efforts with Latest Meme Coin Sales
It’s not yet clear what specific cause Buterin’s recent contribution to meme coins is intended for, but it’s worth noting that this isn’t the first instance where he has utilized such digital assets in his charitable endeavors – a pursuit that appears to ignite his enthusiasm.
In October last year, he donated approximately $884,000 over a period of 10 days, using proceeds from the sale of a meme coin, to aid a company developing technology for countering airborne diseases. Interestingly, around two months prior to that, in August specifically, he also made use of another such sale event to donate to the Animal Welfare Fund managed by Effective Altruism Funds.
Currently, Vitalik Buterin’s concept of meme coins, particularly their role in backing significant causes, is becoming more distinct. In fact, he has long believed that these digital tokens could have a positive influence on society by financing public initiatives and empowering individuals in economically disadvantaged areas to generate income.
His ongoing behavior aligns with his convictions, since he persistently converts unasked-for meme coin deposits into chances for charitable acts.
Meme Coins Face Fallout
Currently, Ethereum’s creator, Buterin, selling off has influenced several tokens, as anticipated. Notably, those with smaller market caps have been hit hard, resulting in substantial price decreases. For example, the price of $DINU plunged by 68%, and $JSHIBA lost about 38% of its value.
It’s worth noting that the sharp drop in value highlights the restricted availability of cash and trading volume for those specific meme cryptocurrencies.
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2025-01-06 20:04