Vitalik Buterin sold $341k worth of memcoin within 30 minutes for 140.67 ETH.
Buterin donated 100 #ETH ($242,000) to support TornadoCash developers. Vitalik's sale is worrisome, as previous memcoin sales have resulted in a 60% drop in price.
Vitalik Buterin, co-founder of #Ethereum , has no intention of stopping when it comes to selling memcoins. According to smart platform Spotonchain, Vitalik sold $341,000 worth of memcoin in just 30 minutes, and also made a large donation to support the developers of TornadoCash.
According to Spotonchain, Buterin sold several memcoins, including MOODENG, DEGEN, NEIRO and KABOSU, as well as the stable coin USDT. His sale netted him 140.67 ETH, which was equivalent to about $242,000 USD at the time.
Such a large sale in such a short period of time caught the attention of market watchers and caused panic among investors, especially since Buterin is a well-known figure in the #cryptocurrency world. After Buterin's sale, the value of memecoin dropped 60% to $0.011 at the time.
After Buterin's sale, the value of memecoin dropped 60% to $BTC However, some analysts fear that this sale could lead to a decline in the price of memecoin.
However, this sale raises questions about the motives behind the dumping of memecoin. Meanwhile, Spotonchain reported that Buterin has donated 100 ETH, or about $242,000, to the "Free Alexey and Roman" campaign. The campaign aims to support Alexey Pertsev and Roman Storm, the creators of TornadoCash, who are facing legal problems.
TornadoCash is a service that allows users to keep their transactions private, and the developers are in trouble because some people are using it for unscrupulous activities.
Buterin's support of these developers shows that he cares about privacy in the cryptocurrency world. Please let us know what you think about this article!
Read us at: Compass Investments
