TLDR
- Vitalik Buterin sold 275 trillion CAT tokens worth $14,216 in USDC through Lifi Diamond.
- The memecoins were sent to his wallet unsolicited just two days before the sale.
- CAT token price dropped 0.81% in the last 24 hours following the transaction.
- Buterin’s wallet also received 1 billion SPURDO and 6.439 billion TWOGE tokens this week.
- He previously converted $96,000 worth of memecoins to ETH in October for charitable donations.
Ethereum co-founder Vitalik Buterin has sold another batch of memecoins worth $14,216 in USDC. The transaction involved unsolicited tokens sent to his public wallet. Buterin continues his pattern of liquidating random digital assets without holding them.
Vitalik Buterin Converts CAT Tokens Through Lifi Diamond
On-chain data reveals Vitalik Buterin sold 275 trillion CAT tokens via Lifi Diamond. Lifi Diamond operates as a multi-chain liquidity aggregator for crypto transactions. The memecoins were deposited into his wallet just two days before the sale.
The transaction triggered a price decline for CAT tokens in the market. CAT dropped 0.81% in value over the last 24 hours following the sale. Blockchain records confirm the entire amount was converted to USDC stablecoin.
Vitalik Buterin received the tokens without requesting them from the project team. His wallet address remains publicly accessible and frequently targeted by projects. Many developers send tokens hoping to gain visibility through his name.
Additional Memecoins Land in Vitalik Buterin’s Wallet
Vitalik Buterin’s wallet received 1 billion SPURDO tokens during the same week. He also got 6.439 billion TWOGE tokens from anonymous senders. These airdrops appear to be marketing attempts by small cryptocurrency projects.
The Ethereum founder has not commented on the latest memecoin sale publicly. However, he previously donated proceeds from similar sales to charitable organizations. In October, Vitalik Buterin converted memecoins worth $96,000 in ETH for donations.
Vitalik Buterin has criticized memecoins repeatedly in public statements and interviews. He described them as digital assets lacking fundamental value or utility. He also requested projects stop sending memecoins to his wallet address.
Market Conditions Affect Ethereum and Memecoins
The cryptocurrency market experienced $812 million in liquidated positions over 24 hours. Total open interest decreased by 1.28% to reach $161 billion across exchanges. Ethereum’s price fell below $4,000 and struggles to recover momentum currently.
The U.S. Federal Reserve recently implemented a 25-basis-point rate cut. However, bearish sentiment persists in cryptocurrency markets despite the rate adjustment. Ethereum continues to face pressure as traders remain cautious about future price movements.
Vitalik Buterin’s sale reinforces his stance against holding memecoins in his portfolio. His public wallet continues receiving unsolicited token airdrops from various projects. The pattern shows projects persist in using his reputation for marketing purposes.
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