Vitalik Buterin Sells 28 Meme Coins for Charity
Vitalik Buterin sold a large amount of 28 different meme coins today and donated the proceeds to his charity Kanro. The total value of these tokens is approximately 984,000 USDC.
Some of these assets have experienced wild price swings since being sold, but there is no apparent consistency among them. Some meme coins are down more than 50%, while others are up more than 100%.
Vitalik Buterin sells Meme coins for charity
Vitalik Buterin, Founder of EthereumThere have been several meme coin sales for charity in recent months. In December, he Donate 88 ETH Go to Khao Kheow Open Zoo, home of Moo Deng. Following this endorsement, the MOODENG coin surged.
In October, he also Over $2 million in Meme coins solddonating proceeds to other charities.
This time, Buterin is donating all meme coins to a specific charity called “Kanro.” It’s one of his own nonprofits dedicated to fighting the pandemic.
Since the COVID-19 pandemic, Buterin has become increasingly interested in donating money and contributing to research to prevent infectious diseases. For example, as early as 2021, the founder of Ethereum Donated nearly $1 billion Help India fight the epidemic.
Additionally, Buterin has been an advocate of using Meme Coin As a means of giving back to society outside of speculative trading. Today’s sell-off reflects this view. He sold 80.47 trillion JSHIBA tokens for 21,466 USDC, while 92,000 DOGE tokens were worth 35,233 USDC.
Almost all assets are selling for less than 100,000 USDC, but this could mean selling thousands or even trillions of dollars.
In other words, his philanthropic actions caused real damage to some of these smaller assets. For example, DINU is down 68%, while ESTEE is up over 100%. Some of these meme coins have small market caps and poor mining pool depth, so Buterin caused significant disruption.
However, this does not mean a continued collapse as some assets end up benefiting. These dramatic fluctuations highlight Unstable Characteristics of Meme Coinseven compared to other crypto assets.
It seems unlikely that Buterin plans to consciously spike any of them. Indeed, in Many times last yearsharp sell-off and Donate caused from him The underlying meme currency will jump. This sale was recent, so similar benefits may yet occur.
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