- Buterin sometimes transfers some of these meme tokens to fund some charitable causes. At the same time, these sales lead to some price declines.
- The on-chain overseer mostly tracks the public address of Vitalik Buterin for clues of probable donations as well as meme dumps.
- Not only this, Buterin also donated about 10 million Thai Baht, or about $290,000 to the Khao Kheow Open Zoo in Thailand as a Christmas gift.
The co-founder of Ethereum, Vitalik Buterin has recently transferred about $1 million in the USDC stablecoin of Circle to his biotech fund donation address, Kanro.
As per the data from Debank(dot)com, Buterin performed multiple transactions on January 6 to sell meme coins in exchange for USDC stablecoin tokens mainly in the name of charity donations.
The address name “vitalik.eth” sold about 28 memecoins, which generated about $984,000 from the sales. Mostly, meme coin developers send free tokens to the public wallet of Buterin, either as a marketing strategy or as a token of appreciation to one of the most prominent developers and leaders of the blockchain.
The price decline followed by transfers
The trend was initiated with Shiba Inu. It was the first among all the tokens to send tokens to Buterin. The memecoin claimed that this event would be equal to taking tokens out of circulation or burning them.
But after some time, Buterin transferred SHIB tokens through a mix of donations and another type of burning, sending the tokens to inaccessible Ethereum addresses, completely eliminating them from circulation.
Buterin sometimes transfers some of these meme tokens to fund some charitable causes. At the same time, these sales lead to some price declines for the tokens involved. Once, a meme coin, DINU went down by 68% in value followed by the sale in exchange for USDC.
The tokens were sent to the Kanro address. Talking about Kanro, it is a biotech fund set up by the co-founder of Ethereum last year and it serves one of many ways the Ethereum co-founder donates.
The on-chain overseer mostly tracks the public address of Vitalik Buterin for clues of probable donations as well as meme dumps. Last year, the co-founder sold Popcat along with some other meme tokens and generated $2.24 million in Ether.
Interact more with cryptography- Buterin
Not only this, Buterin also donated about 10 million Thai Baht, or about $290,000 to the Khao Kheow Open Zoo in Thailand as a Christmas gift to the zoo’s star attraction, Moo Deng. Recently, Buterin has also suggested that the blockchain community should interact more with cryptography and cybersecurity communities.
He further went on to suggest that the growing participation in events not aimed at blockchain is key to wider acceptance and collaboration. His comments were a response to a discussion thread on the topic of what events the PrivacyScaling team should attend this year.
