Ethereum co-founder Vitalik Buterin has made headlines again with his recent move to sell 50.54 billion ESTEE meme coins, which led to a massive surge in market activity. The transaction saw Buterin earning 116,306 USDC (stablecoins) and triggered a 9000% increase in trading volume. ESTEE, a dog-themed meme coin inspired by Shiba Inu (SHIB), has been on a roller-coaster ride, with its price increasing by a staggering 440% before Buterin’s sell-off.
Buterin’s sale sparked massive investor interest, as the coin’s price dipped slightly after his move but quickly recovered, rallying over 200% in the following hours. The sudden surge in price saw ESTEE hit a new high of $0.00001903, marking an almost 8x increase from its intraday low of $0.0000023. Daily trading volume reached $3.16 million, showcasing the frenzy triggered by Buterin’s market actions.
Buterin Continues Meme Coin Sales: What’s Behind the Moves?
In addition to ESTEE, Buterin’s latest sell-off included several other meme coins from his collection. In a span of just 24 hours, he liquidated 340 LDOG tokens for 5.2 ETH and sold more than 10 trillion DINU coins for 4181 USDC. The sales have reignited debates within the crypto community, with many speculating about the long-term implications for meme coin markets and Buterin’s strategy.
While these moves may seem sudden, Buterin has been offloading meme coins for some time, often donating the proceeds to charity. As a prominent figure in the crypto space, Buterin’s actions are frequently scrutinized, and his portfolio adjustments often reflect broader market trends. These recent sales are seen as part of his routine, especially considering the influx of tokens he’s received from various projects as gifts.
The Broader Impact of Buterin’s Coin Dumping
While Buterin’s moves might be part of his usual portfolio adjustments, they still have a significant impact on the meme coin market. The sudden surge in volume and price when Buterin sells or donates his coins reflects how much influence he wields in the crypto community. It’s worth noting that, beyond these transactions, Buterin has also been active in supporting charitable causes.
In a lighter update, Buterin has recently adopted a baby pygmy hippopotamus named Moo Deng as part of a sponsorship program with the Khao Kheow Open Zoo. This announcement led to a 70% spike in the value of the meme coin associated with the hippopotamus. Whether through his market moves or his charitable endeavors, Buterin continues to capture the attention of both the crypto world and the public.
Key Takeaways:
- Vitalik Buterin sold 50.54 billion ESTEE meme coins for 116,306 USDC, sparking a 9000% surge in daily trading volume.
- ESTEE’s price rose 440% before the dump, quickly recovering with an 8x increase from its lowest point.
- Buterin also sold LDOG and DINU tokens, continuing his routine of offloading meme coins and donating the proceeds.
