Ethereum (ETH) News: Buterin's Major Transaction Sparks Interest

Saturday, 5 October 2024, 10:31

Ethereum (ETH) news reveals that Vitalik Buterin has divested $300,000 in meme coins, converting significant assets into ETH. Buterin's recent transaction involved various tokens and highlights his ongoing support for Tornado Cash. Following this unexpected move, analysts speculate on the implications for the broader Ethereum ecosystem.
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Ethereum (ETH) News: Buterin's Major Transaction Sparks Interest

Vitalik Buterin's Memecoin Offload

Ethereum (ETH) news coverage today focuses on Vitalik Buterin's significant financial maneuver. On October 5, Buterin's Ethereum wallet executed a large transaction, divesting a collection of meme coins and converting Tether's USDT for ETH. Data from blockchain analysis indicates that unsolicited meme tokens accumulated in Buterin's wallet over the last year.

What Prompted the Sale?

Buterin's decision to offload over $300,000 in meme coins has raised eyebrows within the crypto community. The transaction saw him sell multiple tokens, realizing 140.67 ETH, valued around $341,000. As reported by Lookonchain, the sale included:

  • 11.76 billion Moodeng tokens for 21 ETH (~$51,000)
  • 70.72 million Neiro for approximately $72,400
  • 7.8 million Degen for 25 ETH (~$61,000)
  • 16 billion Kabosu tokens for 22.94 ETH (~$56,000)

Additionally, Buterin converted his complete USDT balance of 101,000 USDT into 41.69 ETH.

Impact on the Ethereum Ecosystem

Following these sales, SpotOnChain observed that Buterin transferred 100 ETH (approximately $242,000) towards an unknown entity, stirring speculation regarding future developments. His support for Tornado Cash suggests a continued interest in privacy-focused technologies within the Ethereum network.


This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.


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