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Vitalik Buterin Cashes In on Meme Coins, Nets $2.24 Million!

Writer's picture: Blockonome GnomeBlockonome Gnome

The Ethereum co-founder’s sale of meme coins highlights the market’s volatility while supporting charitable donations.


Vitalik Buterin Cashes In on Meme Coins, Nets $2.24 Million!

Ethereum co-founder Vitalik Buterin recently sold a range of meme coins, pocketing around $2.24 million amidst a surge in the meme coin market. The transactions, which netted Buterin 908.77 Ethereum (ETH), occurred at a time when meme coins are outperforming the broader cryptocurrency market.


Buterin’s largest sale involved 10 billion MOODENG tokens, which brought in 395.96 ETH, equivalent to approximately $976,000. Other sales included 200,000 MSTR for $231,000, 500 million EBULL for $182,000, and 15 million Popcat for $67,000. Additional transactions featured tokens like MILO, FWOG, TCATI, and VITALIK.


This isn’t the first time Buterin has made headlines for his meme coin trades. He has been vocal about his appreciation for meme coin projects that donate portions of their supply to charitable causes. In a tweet, he reiterated this point:


"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."


Buterin also revealed that 10 billion MOODENG tokens would be donated toward anti-airborne-disease technology. He encouraged meme coin projects to send donations directly to charities, or even better, create decentralized autonomous organizations (DAOs) to facilitate charitable decision-making.


The Ethereum co-founder’s interest in meme coins goes beyond trading for personal gain. He has consistently advocated for using cryptocurrencies as a force for good, supporting projects that align with charitable causes. "The best thing for meme coins is if they can be maximally positive-sum for the world," Buterin added, reinforcing his long-standing philosophy.


Buterin’s sale of meme coins comes during an upswing in the meme coin market, despite an otherwise slow overall cryptocurrency space. Retail investors are flocking to meme coins, seeking to capitalize on the next potential surge, similar to the previous success of Dogecoin (DOGE) and Shiba Inu (SHIB).


The meme coin rally, part of a broader market recovery dubbed “Uptober,” is capturing the attention of traders, with several political meme coins like MAGA (TRUMP) experiencing particularly high volatility.


As Buterin continues to navigate the meme coin world while emphasizing the importance of charitable giving, his actions highlight the ongoing fascination and speculation surrounding these highly volatile assets.


photo source / Blockonome

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Blockonome's content is meant to be informational in nature and should not be interpreted as investment advice. Trading, buying or selling cryptocurrencies should be considered a high-risk investment and every reader is advised to do their own research before making any decisions.

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