Ethereum co-founder Vitalik Buterin cashes out meme coins, donating ETH to support crypto advocacy.
Vitalik Buterin, a co-founder of Ethereum, turned some meme coins he got into 22.89 ETH today.
Later, he sent Coin Center, a well-known advocacy group for Bitcoin policy, 320 ETH, or almost $1.07 million.
Buterin’s actions demonstrate his devotion to crypto education and his position on these coins. He backs projects that advance policymaking.
See which meme cryptocurrencies are trending in a current bull market.
Free Meme Coins Are Converted To Ethereum By Vitalik Buterin
Blockchain data tracker Lookonchain disclosed on November 27 that Buterin had sold several meme coins that had been moved to his wallet.
He was compensated with 22.89 ETH, or roughly $76,500. These coins were given to Vitalik Buterin for gratis, according to Arkham Intelligence data.
Like Changpeng Zhao, Buterin dissuaded meme tokens from sending money to his wallet.
He suggests giving these monies straight to worthwhile causes instead.
Vitalik Buterin gave Coin Center 320 ETH, which is worth $1.07 million, after the meme coin sale.
Buterin’s commitment to advancing ethics in the blockchain industry is demonstrated by this contribution.
He is still dedicated to increasing the clarity of regulations.
Coin Center, a prominent lobbying group for cryptocurrency policy, is headquartered in Washington, D.C.
The non-profit organization strives to safeguard people’s freedom to design, use, and run open blockchain networks, such as Ethereum and Bitcoin.
By doing policy research, educating decision-makers, and promoting legislation that strikes a balance, it fulfills its objective.
In the digital age, it also brings legal action to protect civil liberties. It is anticipated that Vitalik Buterin’s contribution would bolster the group’s initiatives to support innovation and safeguard decentralized technology.
Ethereum’s Price Situation
The price of Ethereum (ETH), which has slightly decreased during the last day, is currently trading at $3,426.
The range of its daily low and high is $3,255 to $3,443.
With a trading volume of $40 billion during the last day, Ethereum’s market capitalization is $408 billion.
The cryptocurrency has established itself as the second-largest cryptocurrency by market capitalization, with a 12.8% market dominance.
Additionally, Bitwise’s Ethereum ETP was the subject of a 19b-4 petition submitted by NYSE Arca.
This action demonstrates the rising demand for financial products based on Ethereum.
It indicates that institutional participation in the Ethereum market is growing.
Vitalik Buterin, a co-founder of Ethereum, recently bought Anoncast’s ANON tokens so that he could post anonymously on the Farcaster account.
