The post Moo Deng Knockoff Skyrockets as Ethereum Creator Vitalik Buterin Sells 10 Billion Tokens appeared on BitcoinEthereumNews.com.

Vitalik Buterin boosted the profile of a meme coin based on Moo Deng—the viral baby pygmy hippo from Thailand—on Monday, selling billions of the Ethereum tokens for a charitable cause. And that led to the price of the asset skyrocketing, even if it’s still currently playing second fiddle to the better-known Moo Deng coin on Solana. The Ethereum co-founder said on Twitter (aka X) that he had swapped a substantial sum of the Ethereum-based meme coin to fund “anti-airborne-disease tech.” Meanwhile, an entity formed by Buterin named Kanro received $181,000 in ETH. For years, Buterin’s digital wallet has been showered in unsolicited waves of digital assets, a sign of gratitude from developers or perhaps a pseudo-marketing move. Given the Ethereum creator’s immense influence in the crypto industry, his digital wallet serves as a high-profile place for projects to send tokens—and perhaps get some exposure in the process. I appreciate all the memecoins that donate portions of their supply directly to charity. (eg. I saw ebull sent a bunch to various groups last month) Anything that gets sent to me gets donated to charity too (thanks moodeng! The 10B from today is going to anti-airborne-disease… — vitalik.eth (@VitalikButerin) October 7, 2024 The Ethereum co-founder received 62 billion MOODENG from the token’s deployer last month, currently valued at $12 million. Yet Buterin’s holdings have been whittled down across several recent transfers to 40 billion. Within the past few hours, for example, Buterin had sent approximately 10 billion MOODENG tokens to the decentralized exchange CoW Swap. Notably, the meme coin that Buterin donated Monday isn’t the asset that’s galloped to a $102 million market capitalization on Solana. That coin, which coincided with the real-life Moo Deng’s initial splash into the spotlight, has fallen 50% over the past week. Conversely, the rendition on Ethereum—created a…

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Filed under: News - @ October 8, 2024 3:22 pm