Memecoins Skyrocket As Vitalik Buterin Sells Off Tokens and Supports TornadoCash Developers

The memecoin craze continues to dominate the crypto world, with Ethereum-based $PEPE seeing unprecedented growth as it nears 290,000 holders. Meanwhile, Solana memecoins are also gaining traction, with their total market cap surging to a massive $8.70 billion. 🚨 LATEST: @Solana memecoins market cap has surged to $8.70 billion. Top 3 memecoins now exceed $1 billion each: – $WIF – $BONK – $POPCAT pic.twitter.com/QVBjc3eNmM — SolanaFloor (@SolanaFloor) October 4, 2024 Among the top memecoins, $WIF, $BONK, and $POPCAT have each surpassed the $1 billion market cap threshold, cementing their place in the upper echelon of meme-based tokens. Amidst this surge, Ethereum co-founder Vitalik Buterin has made headlines for selling off several meme-related tokens. In the last 30 minutes, Buterin offloaded $341K worth of #MOODENG, $DEGEN, $NEIRO, $KABOSU, and even the stablecoin $USDT, converting them into 140.67 ETH. 🚨DEGEN NEWS: Frogs are leaping to new heights! 🐸 $ETH memecoin $PEPE (@pepecoineth) sees record growth, approaching 290,000 token holders, while $SOL memecoin $FWOG (@solfwog) rallies with a 32% price surge in the past 24 hours. pic.twitter.com/901wNlQNKP — 0xMedia (@0xmediaco) October 4, 2024 Buterin Makes Massive 100 ETH Donation However, Buterin wasn’t done there. At the same time, he made a significant contribution to the “Free Alexey & Roman” campaign, donating 100 ETH (worth around $242K) to support the legal defense of TornadoCash developers Alexey Pertsev and Roman Storm. These developers have been embroiled in legal battles following their work on TornadoCash, a privacy tool that has attracted scrutiny from authorities. Vitalik Buterin (@VitalikButerin) just sold $341K worth of meme-coins #MOODENG, $DEGEN, $NEIRO, $KABOSU, and stablecoin $USDT for 140.67 $ETH in the past 30 minutes. At the same time, he also sent 100 $ETH ($242K) to the “Free Alexey & Roman” campaign, supporting the legal... pic.twitter.com/XYjf2ZVI8g — Spot On Chain (@spotonchain) October 5, 2024 As memecoins continue to rise in popularity and market value, Vitalik’s moves serve as a reminder that while the meme-fueled token frenzy captivates the community, important issues such as privacy and freedom within the blockchain space remain at the forefront of the conversation. Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services. Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news! Image Source: balage941/123RF // Image Effects by Colorcinch The post Memecoins Skyrocket As Vitalik Buterin Sells Off Tokens And Supports TornadoCash Developers appeared first on The Merkle News.