- Vitalik Buterin offloaded 28 tokens, including 50.54 billion ESTEE, earning nearly $1M USDC in hours.
- His selloff sparked significant market volatility, with some tokens rebounding sharply, like ESTEE surging 200%.
Ethereum co-founder Vitalik Buterin has once again attracted the crypto community’s attention by selling off several dog-themed meme coins. Buterin’s aggressive selloff involved 28 meme coins, generating $984,000 in USDC within hours, as highlighted by blockchain monitoring platform Ember.
Overall, Ethereum’s Vitalik Buterin offloaded 28 tokens, gaining $1M in USDC. For additional context, back in 2021, a Crypto News Flash (CNF) post revealed that Buterin owned 100K Dogs of Elon ($DOE) tokens. He has historically sold several free memecoins for significant sums, including $940.9K in $USDC and $ETH.
So far, 916.3K $USDC from his recent selloffs has been transferred to a multisig wallet, likely belonging to the charity Kanro. Detailed sales are shown in a tweet by Spot On Chain below:
Vitalik Buterin (@VitalikButerin) sold several of his free #memecoins for $940.9K in $USDC and $ETH today!
Notable sales include:
• 70M $NEIRO → 74.1K $USDC
• 63.1M $ESTEE → 69.8K $USDC
• 46.5M $MARVIN → 69.2K $USDC
• 500.2K $EBULL → 67.6K $USDC
• 100K $MSTR → 61.5K… pic.twitter.com/VDWXID2xtG— Spot On Chain (@spotonchain) January 6, 2025
Among the most notable transactions, he offloaded 50.54 billion ESTEE tokens, pocketing $116,306 in USDC. Despite a brief price dip, ESTEE rebounded strongly, surging over 200% to $0.00001903, with trading volume skyrocketing by 9141%, reaching $3.16 million.
Alongside ESTEE, Buterin sold other tokens, including 340 LDOG for 5.2 ETH and over 10 trillion DINU coins for $4,181 USDC. These transactions reignited discussions around his portfolio adjustments and their market influence.
The selloff had a significant impact on smaller-cap tokens, causing sharp declines in value. For instance, DINU experienced a 68% drop, while JSHIBA lost 38%. These price swings underscore the sensitivity of niche cryptocurrencies to actions by high-profile figures like Buterin.
The proceeds from his selloff were donated to Kanro, a charitable organization he supports, emphasizing his dedication to philanthropy.
Utilization of Meme Coins as Tools for Social Good
Buterin’s approach to meme coins reflects his broader vision of turning these volatile assets into instruments for societal benefit. He consistently receives tokens as gifts from various projects and uses them to fund charitable causes.
Recently, his adoption of a pygmy hippopotamus named Moo Deng sparked a 70% rally in the MOODENG meme coin. According to a CNF update, Buterin’s adoption of Moo Deng led to the MOODENG meme token’s value skyrocketing by 95%, with major exchanges listing it amid trading volume surges.
This event, along with his donation-driven selloffs, showcases Buterin’s belief in cryptocurrency’s potential for social good. By transforming unsolicited token gifts into opportunities for positive change, he continues to highlight the philanthropic possibilities within the crypto space.
At the time of writing, Ethereum (ETH) is trading at $3,685.72, reflecting a 1.90% increase in the past day and a 10.83% increase in the past week. See the ETH price chart performance below for further details.
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