The Memecoin Meltdown: Vitalik Buterin Cashes Out

• Vitalik Buterin bought eight memecoins for 651.6 ETH, equal to $1.62 million.
• Buterin’s motion reignited hypothesis over his insecurity in memecoins.
• The memecoin market development remained bullish regardless of Buterin’s selloff.

Ethereum co-founder Vitalik Buterin has bought eight memecoins for 651.6 ETH, price $1.62 million, inside one hour. This transaction, recognized by Spot On Chain, an AI-powered crypto evaluation platform, continues Buterin’s development of promoting off his memecoin holdings.

Spot On Chain reviews that Buterin has collected 1,101 ETH, price $2.78 million, prior to now 9 days by promoting memecoins. True to kind, he has donated a good portion of the proceeds to charity. Based on Spot On Chain, the Ethereum developer has donated 360.16 ETH, equal to $884,000.

Buterin’s memecoin gross sales have renewed hypothesis about his insecurity on this class of cryptocurrencies. Whereas he maintains that he doesn’t personally purchase these tokens, many memecoin creators present him, probably as a advertising tactic or to realize his endorsement. This hasn’t stopped him from promoting them and donating the earnings.

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