Ethereum co-founder Vitalik Buterin MOODENG sale involved selling 10 billion MOODENG tokens and donating over $640,000 from the proceeds to his biotech charity, Kanro. That fact follows the consistency of Buterin claiming that all the earnings from memecoins should be donated to charity. The Solana network-launched MOODENG witnessed Buterin sell its coins, increasing attention on Buterin’s charitable activities and the market’s reaction toward the sale.
The blockchain analytics firm Lookonchain tracked the account and found that Buterin sold 10 billion MOODENG meme coins worth around $762,000 for 308.7 ETH. He also donated 260.15 ETH, nearly $640,000, to his charity Kanro, known for providing pandemic solutions in developing regions. It aims to make technology that fights airborne diseases.
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MOODENG Token Price Drops Following Sale
After the token sale, MOODENG dropped 20% and falling to $0.10. That did attract attention from holders though. Just now, Vitalik Buterin announced that he will donate any tokens that he gets from charity donations.
On Twitter, Buterin highlighted the strength of meme coins in creating a positive impact by having communities create DAOs and be involved in any key decisions concerning the charities. The way he has been donating the funds raised from the sale of his token will be part of his public views on cryptocurrency. Buterin also advocated for meme coins to go directly into charity. At the same time, he also acknowledged the beneficial role played by these efforts, especially if they mean promoting broader and wider societal benefits.
Vitalik Buterin MOODENG Sale: Support for Tornado Cash Developers
Selling MOODENG to support defense efforts, Ethereum co-founder Vitalik Buterin supported the defense efforts of the Tornado Cash developers as well. Recently, he sold other meme coins like NEIRO and MOODENG and had the money donated to the “Free Alexey & Roman” fundraising campaign to raise funds for the trial of the developers in New York.
Apart from his philanthropic activities, Buterin has been forefront in the development of the Ethereum ecosystem. He was one of the proponents of Optimism’s SuperchainERC20 update. This development introduces a new cross-chain interface aimed at improving scalability and interoperability for layer-2 Ethereum solutions. As described in a GitHub pull request, this update shall include the ICrosschainERC20 interface to enable better cooperation and neutrality in cross-chain collaboration.
Even more relevantly, Buterin had proposed a reduction in the minimum staking that would be required to access the network and make it more accessible. He proposed lowering the minimum amount from 32 ETH to 16 ETH and then proceeded to say that he was actually looking at bringing it down to 1 ETH in the long term.
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