Recently, Ethereum co-founder Vitalik Buterin sold $341,000 worth of meme coins, including MOODENG, after ETH hit $2,400. This sparked widespread speculation as to why he made this move, especially in a volatile market.
Supporting TornadoCash Developers
Buterinâs sale was not just a financial maneuver; he quickly converted the proceeds into ETH to support a legal cause. He donated 100 ETH to the âFree Alexey & Romanâ campaign, aiding TornadoCash developers involved in legal challenges over privacy solutions.
ETH Market Impact
Ethereumâs price consolidation above $2,400 shows stability despite market volatility. Buterinâs actions may signal his continued commitment to the Ethereum ecosystem, emphasizing decentralized finance and privacy.
What Does This Mean for Ethereum?
Buterinâs support for privacy projects like TornadoCash, coupled with Ethereumâs steady market performance, could influence future market sentiment. Investors remain watchful of ETHâs next moves in the context of broader market dynamics and Buterinâs strategies.
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