Ethereum News Today: Buterin's Meme Coin Sales Highlight Ethereum's Store-of-Value Appeal
Vitalik Buterin, co-founder of EthereumETH-- (ETH), has continued his pattern of converting memeMEME-- coins received as airdrops into Ethereum, a move that has sparked debate within the crypto community. According to on-chain analytics from Lookonchain and Nansen, Buterin recently sold 50.54 billion ESTEE tokens for 116,306 USDCUSDC-- stablecoin and 340 LDOG tokens for 5.2 ETHETH--, as reported by Coingape. These transactions follow similar actions in September 2025, where he exchanged 150 billion Puppies tokens for 28.58 ETH and 1 billion ERC20 tokens for $13,889 in USDC [1]. The proceeds from these sales have consistently been converted into Ethereum, reflecting a strategic preference for the asset over speculative meme tokens.
Buterin's approach has drawn mixed reactions. Some market observers argue that his sales signal a lack of support for meme coins, potentially triggering short-term price declines. For instance, the ERC20 token dropped 70% immediately after his transactions were confirmed, echoing the market impact of his 2021 SHIBSHIB-- selloff [4]. Others contend that converting to Ethereum is a rational move given its relative stability compared to the volatility of meme coins. At press time, Ethereum traded at $4,337.10, with a 0.4% 24-hour decline, but trading volume had increased by 6.38% to $43.75 billion [1]. Analysts note that Ethereum's role as a store of value is gaining traction, with figures like Robert Kiyosaki advocating for its inclusion alongside BitcoinBTC--, gold, and silver in diversified portfolios [1].
The Ethereum co-founder's history with meme coins includes notable episodes such as the 2021 disposal of 7 billion SHIB tokens, where he donated $1 billion to India's COVID-19 relief efforts and burned the remainder. This pattern of rapid exits from airdropped meme tokens underscores a consistent strategy of avoiding long-term exposure to speculative assets. On-chain data from Onchain Lens confirms that Buterin's transactions are typically swift, with minimal retention of meme coins in his wallet [4].
Market participants remain divided on the implications. While some view Buterin's actions as a negative signal for meme coins, others highlight Ethereum's growing appeal as a hedge against volatility. The broader crypto ecosystem has also seen a shift toward utility-driven projects, with Ethereum-based tokens like Mutuum Finance (MUTM) attracting attention for their real-world applications . However, the immediate impact of Buterin's sales on meme coin prices remains a focal point for traders monitoring social media and on-chain activity for sentiment shifts.
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