Ethereum Cofounder Offloads Meme Coins, Strengthens Position in ETH

Vitalik Buterin sold airdropped meme coins worth $96,400 and converted the proceeds into 22.14 ETH.

The move signals Buterin’s preference for Ethereum as a stable and reliable digital asset.

Ethereum continues to gain traction as a store of value, supported by growing investor interest and market activity.

Ethereum cofounder Vitalik Buterin has once again drawn attention from the crypto community after selling a batch of free meme coins for Ethereum. According to blockchain analytics platform Lookonchain, Buterin exchanged the tokens for approximately $96,400, which equals 22.14 ETH. The meme coins were likely distributed to his wallet through airdrops by their creators seeking visibility and credibility at launch.

The transaction has sparked mixed reactions online, with several users interpreting the sale as a signal of Buterin’s lack of confidence in meme tokens. Others view it as a calculated move to consolidate value in Ethereum, a more stable and recognized asset. Analysts note that Buterin’s consistent preference for ETH aligns with his cautious approach to speculative assets that often experience sharp volatility.

Repeated Pattern in Previous Token Sales

This is not the first time Buterin has offloaded meme coins. In September, he converted Puppies tokens for 28.58 ETH and sold ERC20 tokens for $13,900. His history of divesting from speculative coins dates back to the early days of Shiba Inu, when his sale of donated tokens drew widespread attention. Industry observers believe his quick exits from such assets are intended to prevent speculation based on his holdings.

Despite the mild drop of 0.4% in Ethereum’s price over the past 24 hours to $4,337.10, the cryptocurrency continues to attract investors. The trading volume rose by 6.38% to $43.75 billion, indicating growing market activity. Many investors are viewing the dip as a buying opportunity, reinforcing Ethereum’s image as a reliable asset for long-term holding.

Ethereum’s growing acceptance as a store of value has been bolstered by influential voices in finance. Robert Kiyosaki, author of Rich Dad Poor Dad, recently added Ethereum to his list of preferred investments, alongside Bitcoin, gold, and silver. His endorsement reflects a broader shift among investors who see Ethereum as a credible and strategic asset for preserving wealth.

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