Vitalik Buterin Sells Popcat and Other Meme Coins, Cashes Out $2.24 Million
Vitalik Buterin, one of the co-founders of Ethereum, has made headlines for selling several meme coins that were given to him for free. The tokens netted him a profit of $2.24 million in Ethereum’s cryptocurrency, ETH. According to on-chain analysis provided by Lookonchain, the Ethereum co-founder raked in 908.77 ETH worth $2.24 million at Ethereum’s current value.
Vitalik Buterin’s Biggest Sales
The largest sale by Buterin was 10 billion MOODENG tokens, which raised 395.96 ETH, or approximately $976,000. Other notable sales by him included 200,000 MSTR tokens that fetched 93.23 ETH, or about $231,000; 500 million EBULL tokens for 73.79 ETH, or $182,000; and 15 million Popcat tokens for 27.11 ETH, or $67,000.
Further meme coin sales that rounded up Buterin’s considerable earnings were:
- 20 billion MILO for 20.75 ETH, or $51,000
- 11.06 trillion FWOG for 14 ETH, or $35,000
- 500k TCATI for 12.81 ETH ($32,000)
- 1.05 million ETH 6900 tokens for 15.37 ETH ($38,000)
Buterin’s Take on Meme Coins
For quite some time, Buterin has voiced his support for meme coins when these tokens benefit charities of some sort. Recently, the Ethereum co-founder suggested in a tweet that he supports meme tokens since any token coming his way goes to charity, as he has always maintained about the use of cryptocurrency in performing social good. In particular, he has said that 10 billion MOODENG tokens would be used to provide anti-airborne-disease technology.
He also encourages meme coin communities to make direct charitable donations or establish a DAO to manage any donation. It is also indicative of his continued advocacy of the potential for cryptocurrencies to be a force for good in the world.
Meme Coin Mania in Turbulent Markets
Buterin’s sales of the meme coins come at a time when the digital assets are attracting attention, if at all, amidst a larger, sluggish cryptocurrency market. Meme coins are seeing renewed interest as a combination of improving market sentiment and retail investors looking for quick returns.
Tokens associated with known figures or political movements, like Dark Maga and Trump-inspired MAGA, have jumped significantly, only to fizzle out just as quickly. Given how wildly volatile meme coins can be, they are a dicey investment venture. Their surging popularity continues to fuel speculative activity in the crypto space.
