Vitalik Buterin Sells Off 28 Different Meme Coins for Charity Donation 💸

Vitalik Buterin recently sold numerous meme coins, amassing around 984,000 USDC for his charity, Kanro, which focuses on pandemic prevention. Following the sale, meme coin prices fluctuated wildly; some dropped over 50%, while others doubled. This event highlights the volatility of meme coins, which often react unpredictably to market actions.

Buterin, Ethereum's founder, has a history of selling meme coins for charitable causes. In October, he donated over $2 million from meme coin sales to various charities. In December, 88 ETH was directed to the Khao Kheow Open Zoo, triggering a rally in their associated coin.

This time, the sale disrupted smaller assets significantly due to their poor market depth, causing huge swings. However, these market moves seem unplanned, as Buterin's past sales often ended up benefiting meme coins.

Buterin's consistent advocacy for using meme coins beyond trading displays his commitment to community contribution. These recent transactions reflect that giving back is central to his considerable crypto influence.