In several high-profile transfers, Vitalik Buterin (the co-founder of the Ethereum network) has grasped the attention of the crypto market. As per Spot On Chain, a prominent on-chain analytics provider, Vitalik Buterin offloaded more than $341,000 in terms of diverse meme tokens, taking into account, $KABOSU, $NEIRO, $DEGEN, and $MOODENG along with the stablecoin $USDT.
Vitalik Buterin (@VitalikButerin) just sold $341K worth of meme-coins #MOODENG, $DEGEN, $NEIRO, $KABOSU, and stablecoin $USDT for 140.67 $ETH in the past 30 minutes.At the same time, he also sent 100 $ETH ($242K) to the “Free Alexey & Roman” campaign, supporting the legal… pic.twitter.com/XYjf2ZVI8g
— Spot On Chain (@spotonchain) October 5, 2024
Ethereum Co-Founder Offloads Meme Coins of $341K Worth
Thus, Buterin obtained 140.67 $ETH with a value of up to $2300 for each $ETH, within a swift 30-minute window. The rapid sell-off of the respective meme tokens by Buterin has raised speculations across the crypto market. This event has reportedly ignited curiosity about the potential motives of the Ethereum co-founder.
Meme tokens are infamous for being speculative in their nature as well as the sudden price swings. However, Buterin’s strategic offloading points toward the likely market apprehensions or a change in individual investment strategy. While being a chief figure in the crypto sector, Buterin’s trades are normally examined for indications regarding market movements.
Buterin Also Transacts 100 $ETH, Supporting Tornado Cash Developers
Nonetheless, he did not only stop at making a profit. Simultaneously, he sent up to 100 $ETH tokens to the campaign going by “Free Alexey & Roman.” The respective endeavor is collecting funds, to support the legal defense of Roman Storm and Alexey Pertsev. They both have reportedly developed the privacy protocol Tornado Cash which has gone through regulatory scrutiny for offering anonymous transfers on Ethereum.
