Vitalik Buterin sells Popcat, meme coins for $2.24 million

Ethereum co-founder Vitalik Buterin is selling various meme coins he received for free.

According to Lookonchain’s on-chain analysis, Buterin’s recent transactions earned him 908.77 Ethereum (ETH). This is equivalent to approximately $2.24 million at the current price of Ethereum (ETH).

Buterin’s biggest sale

Blockchain data reveals that Buterin sold tokens from various meme coin projects and that the digital assets were clearly launched as a joke.

The biggest sale came from 10 billion MOODENG tokens. The single sale brought in 395.96ETH ($976,000).

Additionally, he sold 200k MSTR for 93.23 ETH ($231,000), 500 million EBULL for 73.79 ETH ($182,000), and 15 million Popcat (POPCAT) for 27.11 ETH ( achieved $67,000).

Other notable sales include:

20 billion MILO ($51,000) for 20.75 ETH 11.06 trillion FWOG ($35,000) for 14 ETH 500k TCATI ($32,000) for 12.81 ETH 20.35 trillion FWOG ($21,000) for 8.53 ETH 202 million VITALIK ($1) 4,000 for 5.49 ETH 14 billion ITO tokens for 36.55 ETH ($90,000) 1.05 million ETH6900 tokens for 11.34 ETH ($28,000) for 15.37 ETH ($38,000) 50.53 billion SATO tokens in exchange Buterin appreciates meme coins

This sale follows Buterin’s previous statements expressing his appreciation for meme coins donating a portion of their supply directly to charities.

In a recent tweet, Buterin stated: “I appreciate all meme coins donating a portion of their supply directly to charities. Everything sent to me is also donated to charity.”

Buterin’s tweet also revealed that the donation of 10 billion Moodeng tokens will be directed towards technology to combat airborne diseases.

However, he emphasized that the projects prefer donations to be sent directly to charities. Buterin also suggested that communities could even form decentralized autonomous organizations to engage in decision-making regarding charitable donations.

The Ethereum co-founder has long been an advocate of using cryptocurrency for social good.

Buterin reiterated his stance on meme coins in a tweet, saying: “I’ve said before that I think the best thing for meme coins is if they can be maximum positive sum for the world. That’s actually happening!”

I appreciate all memecoins donating a portion of their supply directly to charities.

(e.g. last month I saw ebull post a bunch to various groups)

Everything sent to me is also donated to charity (thanks moodeng! From today 10B goes to the fight against airborne diseases…

— vitalik.eth (@VitalikButerin) October 7, 2024

Meme money sales frenzy

Buterin’s latest selling spree comes amid a surge in the value of many meme coins. Despite a generally slow market, meme coins are leading the way with a significant increase.

Several factors, including market sentiment, are contributing to this rise. A broader crypto market recovery, often referred to as “Uptober,” has revived investor interest in meme coins.

There is also an increase in the interest of individual investors. Retail traders account for most of the demand and are looking for the next big meme coin success, reminiscent of past surges like Dogecoin (DOGE) and Shiba Inu (SHIB).

Political price pumps

As overall market sentiment improves, traders are looking to meme coins for quick gains, leading to notable price gains among flipping tokens like Dark Maga and Department of Government Efficiency (DOGE). Both coins rose over 100% before falling within a few days.

Meme coins linked to prominent public figures or political movements such as these have seen price increases, but they are also among the most volatile.

Tokens like MAGA (TRUMP), for example, have been on the rise following recent events involving X.com owner Elon Musk and former President Donald Trump.

Over the last 24 hours, TRUMP’s price has increased by -13.18% and is currently at $4.15.

MAGA’s 24-hour trading volume stands at $9,192,743. Last year, the Trump-inspired token experienced a 33975.93% change in price.