Ethereum co-founder Vitalik Buterin has once again offloaded a substantial portion of his meme coin holdings, amassing over $2 million from these transactions in the last day alone.
Buterin is expected to direct the proceeds toward charitable causes, which is his consistent practice of handling meme coin earnings.
Buterin’s Meme Coin Sales Bring in Over $2 Million
On October 13, Buterin liquidated several meme coins from his portfolio, netting 651.67 ETH, worth $1.61 million. According to blockchain analytics platform Lookonchain, this sale marks Buterin’s second major transaction within the past day. He had sold meme coins worth 257.1 ETH, valued at approximately $636,000, earlier.
In total, Buterin’s memecoin sales in the last 24 hours have earned him 908.77 ETH, or around $2.24 million.
Breaking down the transactions, Buterin sold 10 billion Moodeng tokens for 395.96 ETH ($976,000) and 200,000 MSTR2100 tokens for 93.23 ETH ($231,000). Other sales included 500 million E-Bull tokens, yielding 73.79 ETH ($182,000), 15 million Popcat tokens for 27.11 ETH ($67,000), and 20 billion Milo tokens for 20.75 ETH ($51,000).
Read more: Who Is Vitalik Buterin? An In-Depth Look at Ethereum’s Co-Founder
In addition, Buterin sold 11.06 trillion Solfwog, netting 14 ETH ($35,000), 500,000 TCATI for 12.81 ETH ($32,000), and 202 million Vitalik tokens for 5.49 ETH ($14,000).
Meanwhile, blockchain analytics provider SpotOnchain corroborated reports of Buterin’s meme coin sales, noting that he has accumulated 1,101 ETH, worth $2.78 million, in the past nine days. Out of this, he has already donated 360.16 ETH, valued at $884,000, to charitable organizations.
Indeed, market observers expect the proceeds from his latest sales to follow a similar path of donations toward charitable causes.
Read more: 7 Hot Meme Coins and Altcoins that are Trending in 2024
On October 7, Buterin expressed appreciation for meme coin projects that contribute to charity. However, he encouraged them to either donate directly or create decentralized autonomous organizations (DAOs) to manage donations.
He also reaffirmed his commitment to donating future meme coin earnings to charity, maintaining his focus on using these tokens to make a positive impact. This ongoing philanthropic approach highlights Buterin’s dedication to leveraging meme coin for social good.
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Oluwapelumi Adejumo
https://beincrypto.com/buterin-divests-meme-coins-for-charity/
2024-10-13 22:30:00
