Ethereum co-founder Vitalik Buterin recently offloaded a bunch of crypto assets, including a hefty chunk of Neiro (NEIRO) and other memecoins, to support his charity.
A Million-Dollar Memecoin Sell-Off
According to blockchain sleuths, Buterin sold around $1 million worth of various memecoins on Monday. This included 70 million Neiro (worth about $75,000) and a smaller amount of Dogecoin. In total, he sold roughly 28 different memecoins.
Charity Focus: Kanro
The analyst tracking these transactions believes Buterin is consolidating his holdings to donate to his biotech charity, Kanro. Kanro focuses on pandemic-related issues and has received donations from Buterin before.
Market Impact and Previous Donations
The sales caused some smaller memecoins to drop significantly in value, likely due to their low trading volume. This isn’t the first time Buterin has used his crypto holdings to fund Kanro; he’s done similar sales in the past.
Disclaimer
This information is for general knowledge only and is not financial advice. Investing in cryptocurrency is risky, so always do your research before making any decisions.
