Ethereum co-founder Vitalik Buterin recently made headlines by liquidating six memecoins worth approximately $633,000 in exchange for 257.11 $ETH. The transaction occurred within a 50-minute window and involved notable memecoins such as $MSTR, $POPCAT, and $ITO. This move continues Buterin’s recent pattern of offloading his holdings in memecoins.
Vitalik Buterin (@VitalikButerin) acquired 257.11 $ETH ($633K) by selling 6 #memecoins in the past 50 minutes!
The 6 memecoins that he sold include:
• 330K $MSTR ($281K) for 114 $ETH
• 14M $POPCAT ($185K) for 74.98 $ETH
• 14B $ITO ($90K) for 36.55 $ETH
• 1.05M #ETH6900… https://t.co/p8fctn81oV pic.twitter.com/GSP0GZslb5— Spot On Chain (@spotonchain) October 12, 2024
Ethereum ($ETH) Sale and Breakdown
Among the coins sold, the largest transaction included 330,000 $MSTR, which Buterin sold for 114 $ETH, valued at around $281,000. Another significant portion of his sales was 14 million $POPCAT, which gained 74.98 $ETH ($185,000).
The 14 billion $ITO sale brought in 36.55 $ETH, worth approximately $90,000. Other smaller transactions included the sale of 1.05 million $ETH6900 for $37,800, 50.5 billion $SATO for $27,900, and 10 billion $Milo for $11,700.
Consistent Pattern in Recent Sales
Buterin has been liquidating memecoins over the past week, signaling his intention to support. His consistent selling of such tokens hinting an overarching goal beyond market movements.
The price of Ethereum has increased 1.19% over the past day, currently at $2,473.12. The price peaked near $2,470 and dipped slightly. The trading volume in the past 24 hours is $11.14 billion, a decline of 25.07%. The market cap is $297.72 billion, with 120.38 million ETH in circulation.
While this sale might have a limited impact on Ethereum’s overall market, it underscores Buterin’s influence within the crypto space. His swift transaction reflects the liquidity of the market.
Additionally, the sales highlight his ongoing commitment to using his platform for positive social impact. He is likely to donate the proceeds from this sale, continuing his philanthropic endeavors.