Vitalik Buterin $600,000 Coins from Meme Coin, Here's How!

Bittime - On October 12, 2024, Vitalik Buterin, the founder of Ethereum, again attracted the attention of the cryptocurrency community after selling a number of meme tokens and making a profit of around 257.1 ETH, equivalent to $636,000. 

This action sparked debate among investors, especially regarding the risks associated with investing in meme tokens.

Buterin's Striking Sales Data

According to data from blockchain tracking platform Lookonchain, Buterin sold a large number of meme tokens, including 330,000 MSTR, 14 million POPCAT, and 14 billion ITO. These sales are nothing new for Buterin, who is known for frequently selling or donating tokens he receives without asking. 

In recent transactions, he also sold popular meme tokens such as Milo, SATO, and ETH6900. Buterin once stated that he donated the proceeds from the token sale to charity.

Buterin Controversy Among Investors

Buterin's actions further strengthen a tradition among many investors who believe that unsolicited tokens often carry risks. Critics in the cryptocurrency community highlight that many meme token projects are not transparent and can expose investors to questionable assets. 

There are concerns that some projects may use charitable donations as a marketing strategy to attract funds, while exposing investors to unforeseen risks.

Involvement in the Ethereum Fee Model

Apart from selling tokens, Buterin is also involved in discussions regarding the fee model in the Ethereum ecosystem. He emphasized the need for a more balanced and stable cost model to encourage network usage. 

Buterin proposed exploring EIP-7762 and rollups as a solution to create a better balance in cost sharing between the Ethereum mainnet and Layer 2 solutions, without disrupting the user experience.

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Lessons from Buterin's Action

Even though many people doubt the sustainability and safety of investing in meme tokens, Buterin still shows that he has a way to take advantage of opportunities in this market. 

By randomly selling the tokens he received and donating the proceeds, he not only achieved financial gain, but also made a positive contribution to society through charitable activities.

Be Aware of Investment Risks

Vitalik Buterin's actions this time remind us that although there is potential to achieve huge profits in the cryptocurrency market, it is important for investors to remain alert to the risks that may arise, especially in investing in unsecured tokens.

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