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On-chain analysis by Lookonchain reveals that Vitalik Buterin recently made transactions that earned him 908.77 Ethereum (ETH), equivalent to around $2.24 million at the current ETH price. The blockchain data shows that Buterin sold tokens from several meme coin projects, which are often digital assets created as a joke.
I appreciate all the memecoins that donate portions of their supply directly to charity.
— vitalik.eth (@VitalikButerin) October 7, 2024
(eg. I saw ebull sent a bunch to various groups last month)
Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease…
The most significant transaction involved selling 10 billion MOODENG tokens, netting 395.96 ETH, worth approximately $976,000. In addition, Buterin sold 200,000 MSTR tokens for 93.23 ETH ($231,000), 500 million EBULL tokens for 73.79 ETH ($182,000), and 15 million Popcat tokens, which earned him 27.11 ETH ($67,000). This sell-off follows Buterin's previous remarks, where he expressed his appreciation for meme coins that allocate part of their supply to charitable causes.
In a recent tweet, Buterin mentioned, "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." He also revealed that a donation of 10 billion MOODENG tokens would be directed towards funding anti-airborne-disease technology. However, he emphasized his preference for projects to make donations directly to charities and suggested that communities consider forming decentralized autonomous organizations (DAOs) to make collective decisions regarding charitable contributions.
Buterin, a co-founder of Ethereum, has long been a proponent of using cryptocurrency to promote social good. In another tweet, he reiterated his stance on meme coins, stating, "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!"
As the overall market sentiment improves, many traders have turned to meme coins for quick profits, leading to significant price surges for tokens like Dark Maga and the Department of Government Efficiency (DOGE), both of which saw over 100% gains before quickly plummeting. Meme coins associated with public figures or political movements tend to experience these volatile price "pumps."
For example, the MAGA (TRUMP) token surged following news involving Elon Musk and former President Donald Trump. However, over the last 24 hours, TRUMP has decreased by 13.18% and is currently priced at $4.15. The 24-hour trading volume for MAGA stands at $9.19 million, and over the past year, the token has seen a staggering 33,975.93% price change.
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Brenda has been a news writer since 2019 with a deep background in crypto. Brenda commits to producing excellent, well-optimized content to ensure consumer satisfaction.
