Vitalik Buterin Sold 5 Tokens He Received for Free for $340,500

Vitalik Buterin, the co-founder and lead developer of the Ethereum blockchain, made $340,500 by selling ERC-20 meme-based tokens that he received for free.

Four of these crypto assets were meme coins that have recently become popular. To summarize, on October 5, he sold five tokens for 140.67 ETH, and at the time, Ethereum was worth $2,420.

According to Lookonchain, Buterin exchanged $101,000 in $USDT for $41.69 ETH during the transactions. In addition, he sold 11.76 billion MOODENG for 21.03 ETH worth $50,900. He also sold $NEIRO tokens for $72,400, $DEGEN for $60,800, and $KABOSU for $55,500.

These sales are not accidental, as interest in memecoins has started to grow again, and as a result, their value has also increased, so now is a good time to make a profit.

Several of the sold cryptocurrencies from the top 10 by weekly growth are meme coins. For example, DEGEN is in sixth place, having increased by 57% over the past seven days.

In general, investors should not forget that cryptocurrencies are volatile, so they pose significant risks for traders. Memecoins are characterized by additional risks.

CoinMarketCap