Vitalik Continues Donation Spree by Offloading 28 Meme Coins

Vitalik Buterin recently offloaded significant holdings of 28 meme coins, raising approximately 984,000 USDC for his charity, Kanro.

Blockchain data from Arkham Intelligence linked the transactions to wallets attributed to Buterin, confirming the sell-off.

Given meme coins' typically low liquidity, large sales often result in steep price fluctuations.

In the aftermath, some tokens plummeted over 50%, while others unexpectedly surged more than 100%, underscoring the unpredictable nature of the meme coin market.

Vitalik No Stranger to Selling Off Meme Coins for Charity

Buterin has consistently leveraged gifted meme coins to fund charitable causes, reinforcing his commitment to philanthropy.

After his October sell-off, he expressed gratitude to those who sent him tokens and pledged the proceeds to an anti-airborne disease technology charity.

Over recent months, Buterin has conducted multiple meme coin sales for charity.

In December, he donated 88 ETH to the Khao Kheow Open Zoo, home to Moo Deng, which sparked a surge in the MOODENG coin's value.

Earlier in October, he liquidated over $2 million in meme coins, directing the funds to various charities.

This time, Buterin channelled all proceeds—approximately 984,000 USDC—to Kanro, a nonprofit he co-founded dedicated to pandemic prevention.

Since the COVID-19 crisis, he has increasingly supported disease research and global health initiatives.

In 2021, he notably donated nearly $1 billion to aid pandemic relief efforts in India.

Beyond financial contributions, Buterin has advocated for meme coins to serve a purpose beyond speculation, positioning them as a vehicle for social good.

His latest sales align with this philosophy.

While most assets sold for under 100,000 USDC, the quantities varied widely—from a few thousand tokens to trillions—further illustrating the volatility and scale of the meme coin market.

Vitalik's Sell-Off Triggered Extreme Price Swings, For Better & Worse

Traders closely monitor Buterin's token sales, as his moves often trigger extreme volatility in the meme coin market.

This time was no different.

Estee, a Shiba Inu-themed token that sent 12% of its 420 billion supply to Buterin in September, surged 112% after he offloaded the tokens for $116,000.

Other meme coins, including Marvin Inu, Ethereum is Good, and Terminus, also saw erratic price swings before ultimately trading higher.

However, not all tokens fared well.

Ledog plummeted 65% following Buterin's sale, while Dogey-Inu, AstroElon, and Amaterasu Omikami also declined.

Many of these coins suffered due to their small market caps and shallow liquidity pools, amplifying the market disruption.

But despite the chaos, Buterin's sales did not result in a uniform crash—some tokens benefited significantly.

These sharp fluctuations underscore meme coins' extreme volatility, even relative to other crypto assets.

While some traders speculate that Buterin's actions are intentional, historical patterns suggest otherwise.

In previous instances, his large-scale liquidations and donations have paradoxically led to price surges.

Given the recency of this sale, further market reactions may still unfold.