Ethereum co-founder Vitalik Buterin sold On the Uniswap decentralized exchange, several different memcoins, including DOJO, SPURDO and MARVIN, bought 22.14 ETH with a total value of about $96,400. The transactions were noticed by Lookonchain analysts.
Shortly after the token sale, Buterin transferred 70 ETH worth $304,000 to an unknown address, sending the crypto assets through the privacy-enhancing RAILGUN protocol.
The reasons why Buterin might have sold memecoins are unclear to analysts. However, this is not the first time such a situation has occurred. The Ethereum co-founder is often sent memecoins from various new projects in order to attract interest in the tokens. Buterin has repeatedly made it clear that he does not wish to receive tokens as gifts. He has urged crypto startups to stop sending him coins and has suggested that they donate these assets to charity.
In 2021, Buterin burned 90% of his SHIBA INU tokens, destroying 410 trillion SHIB for an impressive amount of $7.4 billion. Buterin is generally skeptical of memecoins, arguing that most of them do not provide real value to society. He has recommended that developers create better cryptocurrencies that offer real value rather than just being speculated on.
Recently, Buterin stated that decentralized finance (DeFi) brings much more benefits to people than non-fungible tokens (NFTs) and memecoins, even with the ongoing risks of hacking attacks.
