Vitalik Sells a Large Batch of Memecoins for ETH

Vitalik Buterin donates 320 ETH tokens worth $1.07 million after selling memecoins worth $81.8k.

Vitalik Sells A Large Batch Of Memecoins For Eth

Vitalik Buterin, the founder of Ethereum [ETH], recently made headlines when he sold several memecoins for a total of 24.5 ETH, equivalent to $81,800. Specifically, he sold:

  • 330 billion $LEDOG for 10.96 ETH,
  • 3.03 trillion $DOGC for 10.8 ETH,
  • 19.95 million $99 for 1.58 ETH,
  • and 300 million $VITALIK for 1.14 ETH, according to a report from SpotOnChain.

Vitalik then made a large donation, donating 320 ETH ($1.07 million) to the Coin Center organization.

Data From Spot On Chain
Data From Spot On Chain

What does this mean for ETH?

Donating to Coin Center can have both positive and negative effects on the ETH price chart.

  • On the downside, if Coin Center liquidates the ETH donated to fund operations, it could create selling pressure in the market, especially if the amount is large enough relative to the trading volume.
  • On the upside, an influential individual like Buterin’s donation could draw positive attention to Ethereum, thereby creating a good media effect, promoting interest and increasing trading activity.

Currently, this donation does not seem to have a negative impact on the ETH price. Ethereum is still in a strong bullish phase, indicating that the market has absorbed the ETH sales well, and investor sentiment towards ETH remains positive.

The market’s optimism towards Ethereum continues to be reflected in the behavior of “whales” – large investors. According to data from IntoTheBlock, the net inflow of whales has remained positive during this period.

Intotheblock
Intotheblock

This shows that the capital inflow into ETH far exceeds the outflow. When large investors increase their buying, it usually means an accumulation phase, indicating that they expect ETH prices to rise in the near future.

In addition, Ethereum’s Open Interest (OI) has increased sharply over the past week, reaching an all-time high (ATH). According to data from Coinglass, OI peaked at $21.22 billion before stabilizing at $20.8 billion at the time of writing. This increase shows that investors are opening new positions while holding on to existing ones, a sign of confidence in the market.

Where is Ethereum headed next?

As mentioned, Buterin’s donation to Coin Center has not had a negative impact on the ETH price chart. On the contrary, Ethereum investors continue to maintain optimism as bulls attempt to regain control of the market.

At the time of writing, Ethereum is trading at $3,580, up 10% over the past 24 hours.

This sustained uptrend is strengthening Ethereum’s position to reach new milestones. If the bulls maintain their bullish sentiment, ETH could continue to challenge the $4,000 resistance level.

Love

0.0/5

Love

Latest

Binance Launches $45 Million Bnb Airdrop To Rescue Memecoin Traders

News | Altcoin | Editor Choice | Memecoin

Binance Launches $45 Million BNB Airdrop to Rescue Memecoin Traders

Amid a historic crypto crash that wiped out over $20 billion in value, Binance has launched a $45 million BNB airdrop to rescue tens of thousands of memecoin traders caught in the largest liquidation wave in history.

‘trump Insider Whale’ Denies Allegations, Opens New Bitcoin Short

News | Bitcoin | Editor Choice

‘Trump Insider Whale’ Denies Allegations, Opens New Bitcoin Short

A crypto whale who made nearly $200 million shorting before last week’s crash has opened a new $340 million Bitcoin short, denying rumors of insider ties to the Trump family.

Strong Buying Momentum Pushes Bnb To New All Time High

News | Altcoin | Editor Choice

Strong Buying Momentum Pushes BNB to New All-Time High

A massive $96 million inflow into BNB has reignited market optimism, as analysts believe Binance’s native token is entering a strong accumulation phase before potentially breaking to new highs.

The Whale Who Made $192 Million Shorting The Crypto Crash Is At It Again

News | Altcoin | Editor Choice

The Whale Who Made $192 Million Shorting the Crypto Crash Is at It Again

A notorious whale on Hyperliquid — who previously made $192 million by perfectly timing last week’s crash — is back with another massive short, sparking fears that Bitcoin could be on the verge of another steep decline.

Binance Spends $283 Million To Clean Up Weekend Market Chaos

News | Editor Choice | Policy & Regulations

Binance Spends $283 Million to Clean Up Weekend Market Chaos

The world’s largest cryptocurrency exchange, Binance, has announced a total compensation of $283 million for users affected by collateral asset depegging during the sharp market crash on October 10.

Screenshot 2025 09 10 100533