Vitalik Buterin, the co-founder of Ethereum, has made headlines by liquidating a significant portion of dog-themed meme coins, specifically ESTEE and LDOG. This move comes in the wake of ESTEE’s impressive surge of 440% within a single day.
How Do ESTEE Sales Influence Market Trends?
Data from blockchain analytics firm Nansen revealed that Buterin divested 50.54 billion ESTEE coins, netting him 116,306 USDC. This transaction was executed through a well-known wallet address.
Similar to Shiba Inu, ESTEE has generated robust trading volume, particularly alongside the meme coin VICKY. Although ESTEE’s price briefly dipped following Buterin’s sale, it rapidly recovered, closing the day with over a 200% gain.
What Is Buterin’s Overall Approach to Meme Coins?
Within a 24-hour span, Buterin also sold LDOG and DINU Coins, accumulating around 5.2 ETH from LDOG and 4,181 USDC from DINU. Such transactions have ignited conversations in the crypto community regarding their potential implications on market dynamics.
Buterin frequently receives unsolicited coins from various crypto projects, which he subsequently sells, often donating the proceeds. This practice is a recurring theme in his portfolio management strategy.
– Buterin sold 50.54 billion ESTEE coins, earning 116,306 USDC.
– He also liquidated LDOG and DINU, gaining approximately 5.2 ETH and 4,181 USDC, respectively.
– His regular donations from these sales demonstrate his commitment to social causes.
The crypto community continues to watch Buterin’s activities closely for indications of future market trends and potential shifts in investor sentiment.
