Key Points
- Vitalik Buterin, Ethereum co-founder, has sold off a large number of meme coins.
- He has donated the proceeds, amounting to $984,000, to his charity organization, Kanro.
Vitalik Buterin, co-founder of Ethereum, has once again made waves in the crypto community.
He has done so by selling off a substantial quantity of meme coins.
Meme Coin Sales and Donation
A recent post by Ember monitoring revealed that Buterin sold 28 different meme coins in the span of five hours.
This sale has reportedly earned him $984,000 in USDC, which he has subsequently donated to his charity organization, Kanro.
The sales included a wide variety of coins including $DINU, $ESTEE, $DOGE, $JSHIBA, and $OMIKAMI, amongst others.
Buterin’s latest donation continues his pattern of using meme coins for philanthropic work.
The exact purpose of this donation has not been disclosed, but it aligns with his previous actions.
In the past, he has donated substantial amounts from similar meme coin sales to support various causes.
Impact on Meme Coins
Buterin’s recent sell-off has had a significant impact on some of the tokens involved.
Particularly those with small market capitalizations have experienced significant price drops, such as $DINU and $JSHIBA.
This sudden decline highlights the limited liquidity and pool depth of these particular meme coins.
