Ethereum co-founder, Vitalik Buterin, recently gained significant attention by selling meme tokens worth a total of $2.24 million, exchanging them for 908.77 $ETH.

Details of Buterin's Transactions

Lookonchain reported that Buterin sold various meme tokens totaling $2.24 million. Among these transactions were: selling 10 billion $MOODENG tokens for 395.96 $ETH ($976,000), 200,000 $MSTR for 93.23 $ETH ($231,000), 500M $EBULL for 73.79 $ETH ($182,000), 15M $POPCAT for 27.11 $ETH ($67,000), 20B $MILO for 20.75 $ETH ($51,000), 11.06T $FWOG for 14 $ETH ($35,000), 500,000 $TCATI for 12.81 $ETH ($32,000), and 202M $VITALIK for 5.49 $ETH ($14,000).

Reasons for Receiving Meme Tokens

Buterin receives significant amounts of meme tokens as gifts from developers. These tokens are given to him to boost their popularity, leveraging the fame of the Ethereum co-founder. However, Buterin consistently converts these tokens into $ETH, showing his intent to divest from them.

Buterin's Previous Sales

This is not the first instance of Buterin conducting such sales. In 2021, he sold Shiba Inu tokens ($SHIB) that were sent to him as part of a marketing plan. He later donated a portion of those tokens to charitable causes, including COVID-19 relief efforts in India.

Vitalik Buterin's sale of meme tokens demonstrates his cautious approach to gifted cryptocurrencies, which he prefers to quickly convert into Ether for further use.