Vitalik Buterin Netted Over $2.24 Million in ETH This Weekend Selling Meme Coins

Ethereum co-founder Vitalik Buterin netted $2.24 million in ETH over the weekend after selling several meme coins that were gifted to him, including

After receiving several meme coins as gifts, Ethereum co-founder Vitalik Buterin sold them over the weekend, netting a total of $2.24 million in ETH.

According to on-chain analytics platform Lookonchain, Buterin's most recent meme coin sales took place on Oct. 13. During this trade, he sold $1.61 million worth of meme coins for 651.67 ETH.

Following that, the total ETH that the Ethereum founder accumulated through his meme coin trades over the weekend reached 908.77 ETH.

Buterin’s Biggest Meme Coin Sale Was MOODENG

The biggest trade performed by Buterin was the sale of 10 billion MOODENG. Buterin exchanged the meme coin for 395.96 ETH, which amounted to $976K. The next biggest sale was MSTR, where he swapped 200K MSTR for 93.23 ETH, valued at $231K.

vitalik.eth(@VitalikButerin) sold some memecoins for 651.67 $ETH($1.61M) again 1 hour ago!

In the past 12 hours, #vitalik got a total of 908.77 $ETH($2.24M) by selling memecoins received for free.

Sold 10B $MOODENG for 395.96 $ETH($976K).Sold 200K $MSTR for 93.23 $ETH($231K).… pic.twitter.com/fE1NTyu9k9

— Lookonchain (@lookonchain) October 13, 2024

Buterin also performed large swaps for POPCAT, EBULL, MILO and FWOG. Smaller holdings of TCATI, FWOG and VITALIK were also sold for ETH over the weekend.

Of the tokens that were sold by Buterin, all saw price drops in the last 24 hours.

Meme Coin Market Cap Up Despite Buterin’s Sell Off

Even with Buterin’s meme coin trades, the market cap for the lighthearted sector of the crypto space saw its overall valuation increase in the past day of trading.

GOAT, BURN and GME led the gains as the meme coin sector’s market cap rose by more than 1%.

Meanwhile, PolitiFi meme coins also saw their market cap increase by 2%.

In other news, tokens in their presale stage continued their positive momentum. Layer-2 PEPE alternative Pepe Unchained (PEPU) has raised over $19.37 million through its ongoing ICO, which marks some of the highest sales this year.

Another token with strong momentum is Crypto All-Stars (STARS), which has raised more than $2.2 million and offers an annual staking yield of 652%.