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Ethereum Co-Founder Vitalik Buterin Sell Meme Coins, Here’s Why

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Ethereum co-founder Vitalik Buterin converted some meme coins he received into 22.89 ETH today. He later donated 320 ETH approximately $1.07 million to Coin Center, a prominent cryptocurrency policy advocacy organization.

Buterin’s actions reflect his stance on these tokens and commitment to crypto education. He supports initiatives driving policy development. Check the top meme coins making waves in this bull market.

Vitalik Buterin Converts Free Meme Coins into ETH 

On November 27, blockchain data tracker Lookonchain revealed that Buterin sold several meme cryptocurrencies transferred to his wallet. In return, he received 22.89 ETH, valued at approximately $76,500. As per Arkham Intelligence data , Vitalik Buterin received these coins for free.

Buterin similar to Changpeng Zhao discouraged meme tokens from sending tokens to his wallet. Instead, he recommends donating these funds directly to impactful causes.

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Following the meme coin sale, Vitalik Buterin donated 320 ETH (valued at $1.07 million) to Coin Center. This contribution underscores Buterin’s dedication to promoting ethics in the blockchain space. He remains committed to advancing regulatory clarity.

Coin Center based in Washington D.C., is a leading advocacy group for cryptocurrency policy. The non-profit focuses on protecting individual rights to create, use, and operate open blockchain networks like Bitcoin and Ethereum.

It accomplishes its mission by producing policy research, educating policymakers, and advocating for balanced legislation. It also litigates to defend civil liberties in the digital age. Vitalik Buterin’s donation is expected to strengthen the organization’s efforts in defending decentralized technology and promoting innovation.

Ethereum Price Context

Ethereum (ETH) price is trading at $3,426 experiencing a slight dip over the past 24 hours. Its daily low and high range from $3,255 to $3,443. Ethereum’s market cap stands at $408 billion, with a trading volume of $40 billion in the past day. The cryptocurrency commands a market dominance of 12.8%, cementing its position as the second-largest cryptocurrency by market capitalization.

Moreover, NYSE Arca filed a 19b-4 proposal for Bitwise’s Ethereum ETP. This move highlights the growing interest in Ethereum-based financial products. It signals increasing institutional involvement in the Ethereum market.

Recently, Ethereum co-founder Vitalik Buterin purchased ANON tokens of Anoncast for posting anonymously on Farcaster account.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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US Court Grants SEC’s Request for Extended Briefing in Binance Case

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34 minutes ago

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November 27, 2024

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Binance Lawsuit: A district court has granted the U.S. Securities and Exchange Commission’s (SEC) motion to file an omnibus brief in response to the lawsuit dismissal. The motion came in response to requests by Binance, Changpeng Zhao and Binance US to dismiss the amended complaint. The court’s decision on the dismissal of the complaint is still pending.

US SEC Can Extend the Briefing in Binance Lawsuit

The US SEC had requested permission to exceed the typical page limit under local rules, citing the complexity of the motions, which involve multiple legal arguments. Judge Amy Jackson approved the request, allowing the SEC to submit a combined response that will not exceed 70 pages. This extension grants the SEC additional space to address the legal points raised by both sets of defendants in the ongoing Binance lawsuit, per the district court filing.

The dismissal motions filed by Binance Holdings Limited, Changpeng Zhao, and BAM Trading Services Inc., currently stand null and void as of now. The defendants had filed separate motions to dismiss the SEC’s amended complaint in early November. Binance argued the overlapping of legal arguments across SEC’s collective 90-page submissions.

However, the SEC stated that it would consolidate all responses into a single document to promote judicial efficiency and avoid duplication across separate filings. While Local Rule 7(e) allows 45 pages per response brief, the SEC will now be able to provide a combined response following the court order.

The SEC’s response is due by December 4. Both Binance and BAM have indicated they do not oppose the SEC’s request. Last month, the U.S. District Court issued a scheduling order extending the Binance lawsuit to 2026.

BNB Coin Hitting Fresh All-Time High Soon?

While the rest of the crypto market has delivered a massive surge following the Donald Trump victory, Binance’s native BNB Coin hasn’t shown much movement due to the recent order in lawsuit. However, the BNB bulls are holding the line at the crucial support level of $600.

As of press time, the BNB price is 1.5% down at $620 with its market cap slipping under $90 billion. But BNB reversed the trajectory after retesting the support at $600 earlier today hinting the path ahead to a new all-time high.

If the current market trend persists, analysts expect BNB Coin (BNB) to rally 150% from here as reported by CoinGape. The BNB derivatives data shows that the open interest remains flat at $911 million while options trading volume surged 47% to $1.15 million. Also, in the recent pullback, the BNB long liquidations have surged past $2.16 million, per the Coinglass data.

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Bhushan Akolkar

Bhushan is a FinTech enthusiast with a keen understanding of financial markets. His interest in economics and finance has led him to focus on emerging Blockchain technology and cryptocurrency markets. He is committed to continuous learning and stays motivated by sharing the knowledge he acquires. In his free time, Bhushan enjoys reading thriller fiction novels and occasionally explores his culinary skills.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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Grayscale Opens Private Placements in XRP, SOL, XLM and 15 Other Trusts

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6 hours ago

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November 27, 2024

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Grayscale Investments has reopened private placement in its 19 trusts including XRP, Solana (SOL), and Stellar (XLM) for eligible investors. Institutional and individual accredited investors may subscribe to private placements at net asset value (NAV), enabling them to hold for a specific period and sell them at the secondary market.

In an official announcement on November 26, Grayscale Investments announced the reopening of private placement subscriptions at net asset value (NAV). These are available for accredited investors only.

As per Grayscale, accredited investors mean those who earn more than $200,000 a year (or $300,000 per year with a spouse or spousal equivalent). They must have a net worth of more than $1 million, either alone or together with a spouse or spousal equivalent. Entities must have $5 million in liquid assets.

Investors can invest in trust for top and trending tokens including Ripple’s XRP, Solana (SOL), Stellar (XLM), Avalanche (AVAX), AAVE, Chainlink (LINK), Filecoin (FIL), NEAR, Bittensor (TAO) and Zcash (ZEC). Other tokens include Basic Attention Token (BAT), Bitcoin Cash (BCH), Litecoin (LTC), SUI, Stacks (STX), Maker (MKR), and Livepeer (LPT), and Decentraland (MANA).

Grayscale also listed Decentralized AI Fund among the trusts for private placement subscriptions. The fund consists of NEAR, TAO, FIL, RENDER and GRT tokens.

The recent selloff in Bitcoin price has also triggered selling in XRP, Solana (SOL), and Stellar (XLM). XRP price fell over 10% to hit a 24-hour low of  $1.3.

Whereas, SOL price retraced 5% to $229 and XLM fell nearly 15%, with the price currently trading at $0.4316.

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Varinder Singh

Varinder has over 10 years of experience in the Fintech sector, with over 5 years dedicated to blockchain, crypto, and Web3 developments. Being a technology enthusiast and analytical thinker, he has shared his knowledge of disruptive technologies in over 5000+ news, articles, and papers. With CoinGape Media, Varinder believes in the huge potential of these innovative future technologies. He is currently leading the news team to cover latest updates and developments in the crypto industry.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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BTC and Altcoins Decline, ALGO Soars 15%

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7 hours ago

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November 27, 2024

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The crypto prices today have largely followed a concerning bearish trend. Bitcoin (BTC) witnessed a sharp drop, reaching the $91K level. Ethereum (ETH), Solana (SOL), and XRP also significantly declined over the past day. Meanwhile, Algorand (ALGO) and Fantom (FTM) emerged as the top gainers in the last 24 hours.

The overall market cap has decreased by 2%, currently at $3.18 trillion. Additionally, the overall trading volume has dropped by 9%, now at $220 billion. Let’s explore the performance of top cryptocurrencies as reflected in the crypto prices today on November 27.

Crypto Prices Today: BTC, ETH, SOL, and XRP Drop

The crypto prices today reveal a sharp decline, with BTC prices plummeting significantly, briefly touching $91K. Ethereum (ETH), Solana (SOL), and XRP mirrored this broader bearish trend, continuing their downward trajectory. Meme coins also faced a drop in value, reflecting the overall market sentiment.

Bitcoin Price Today

BTC price tanked over 2% in the last 24 hours, currently trading at $92,890, with a 24-hour range of $90,770 to $94,991. Bitcoin’s market cap stands at $1.84 trillion, with $90 billion in trading volume and a dominance of 57.52%.

A significant $122 million outflow from BTC ETFs was recorded as of November 26, with BlackRock’s data yet to be disclosed. Fidelity led the outflows with $95 million. Meanwhile, Brazil’s Congress is reviewing a bill to create a strategic Bitcoin reserve.

Ethereum Price Today

Similarly, ETH price experienced a 2% decline, currently trading at $3,362. Its intraday low and high were recorded at $3,255 and $3,448, respectively. Ethereum’s market cap stands at $405 billion, with $39 billion in trading volume over the last 24 hours.

According to Sosovalue, ETH ETFs saw a total outflow of $9.45 million. While data from BlackRock is still awaited, Grayscale led other ETFs with an inflow of $16 million.

Solana Price Today

The crypto prices today reveal a 3% drop in Solana (SOL) over the past 24 hours, with the coin currently trading at $233. Its 24-hour low and high stand at $222 and $239, respectively, with a market cap of $110 billion and a trading volume of $7 billion.

Meanwhile, the Solana meme-coin launchpad Pump Fun has announced an indefinite suspension of its live-streaming feature. This decision has sparked curiosity within the Solana community.

XRP Price Today

XRP price dipped nearly 6%, currently trading at $1.369, with a 24-hour low and high of $1.29 and $1.45, respectively. Its market cap stands at $78 billion, with a trading volume of $9 billion and a market dominance of 2.45%, making it the sixth-largest cryptocurrency by market cap.

Ripple, the company behind XRP, has contributed $25 million to the pro-crypto PAC, Fairshake. This donation strengthens its support for pro-crypto initiatives in the industry.

Meme Coin Prices Today

The meme coin sector has mirrored a waning trend today, with Dogecoin (DOGE) price experiencing a 4% dip, currently trading at $0.3876. Its 24-hour low and high are $0.36 and $0.40, respectively, with a market cap of $57 billion and a trading volume of $8.6 billion over the past 24 hours.

Meanwhile, Shiba Inu (SHIB) price saw a 3% drop, reaching $0.00002446. Other meme coins like PEPE, BONK, and WIF also slipped by 4% to 8% today, reflecting a broader downturn in the sector.

Top Crypto Gainers Prices Today

Algorand

Algorand (ALGO) price is up by 15%, currently trading at $0.299. Its 24-hour low and high are $0.2515 and $0.3089, respectively, reflecting strong positive movement in the market.

Fantom

Fantom (FTM) price is up by 14%, currently trading at $1.09. Its 24-hour low and high are $0.92 and $1.13, respectively, showing strong gains in the past day.

Top Crypto Losers Prices Today

Stellar

Stellar (XLM) price is down by 15% in the last 24 hours, currently trading at $0.42. Its 24-hour low and high are $0.4186 and $0.5104, respectively, reflecting a significant decline in value.

The Sandbox

Sandbox (SAND) price is down by 10%, currently trading at $0.58. Its 24-hour low and high are $0.58 and $0.66, respectively, showing a decline in value over the past day.

Nonetheless, the hourly time frame and the crypto prices today indicate a potential reversal, with BTC and top altcoins showing signs of strength. This shift suggests a possible recovery after recent declines, as market sentiment starts to improve.

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Coingape Staff

CoinGape comprises an experienced team of native content writers and editors working round the clock to cover news globally and present news as a fact rather than an opinion. CoinGape writers and reporters contributed to this article.

Disclaimer: The presented content may include the personal opinion of the author and is subject to market condition. Do your market research before investing in cryptocurrencies. The author or the publication does not hold any responsibility for your personal financial loss.





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