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Vitalik Sells 28 Meme Coins for Charity
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- @airdropdecks
Vitalik Buterin's wallet is like a “money printing machine” as hundreds of developers race to send tokens in the hope that he will promote them, making them a phenomenon on the market.
Data from @EmberCN shows that Vitalik Buterin, the founder of Ethereum, sold and swapped more than 28 types of memento in his wallet on the evening of January 6.
Some of those tokens include well-known cryptos such as CULT, DOGE, SHIB, and some lesser known tokens associated with famous figures such as Elon Musk. These transactions helped Buterin raise about $2.5 million in USDC and ETH.
Memecoin founders often send a portion of their token supply to influential figures, typically such as Vitalik Buterin, in hopes of generating attention and promoting marketing.
However, Buterin often sells these tokens, causing the price to plummet, and donate the proceeds to charities.
In 2021, Vitalik sold more than $60 million worth of SHIB and other coins to fund areas such as longevity research, artificial intelligence, and epidemic prevention organizations.
According to Arkham Research, Buterin's fortune is estimated at nearly $1 billion, much of it coming from more than 240,095 ETH worth about $873 million in his public wallet, which is linked to the ENS address vitalik.eth.
He also owns a large number of other tokens such as AAVE-related AETH, 10 billion WHITE tokens belonging to the WhiteRock platform, and nearly $1 million worth of wrapped ETH. However, most of the other tokens in his wallet are worth very little, almost insignificant.
In the past few hours, Buterin has transferred many tokens to decentralized trading platforms such as CoW Swap, Uniswap, Kyber Network, and Odos.
Some tokens have such low trading volumes that it is unclear how these transactions affect the price. A notable example is that he liquidated trillions of DOBE (Dobermann) tokens, and the price of this token seems to be rising.
Vitalik Buterin's charitable actions also caused great upheaval for some of the small types of property he sold off. For example, the price of DINU fell by 68%, while ESTEE rose by more than 100%. Due to the fact that these meme coins often have low market capitalization and poor liquidity, Buterin's sale of them has caused significant disturbances in the market.
Buterin's token sale may be aimed at raising funds for the Kanro charity, a fund he set up to support issues related to the COVID-19 pandemic.
In addition, onchain data shows that he has also donated to the charity RiseUp, which focuses on privacy issues. These moves show Buterin continuing to use his assets to support humanitarian and charitable causes.
