Key Points
Vitalik Buterin’s MOODENG Token Sale and Donation
Ethereum co-founder Vitalik Buterin recently sold 10 billion MOODENG tokens.
The proceeds from this sale were donated to his biotech fund, Kanro.
Buterin advocates for memecoins that can maximize their impact through charitable contributions.
According to on-chain data from Lookonchain, the sale generated 308.69 ETH, equivalent to around $762,000.
Out of this, Buterin donated 260.16 ETH (approximately $642,000) to Kanro.
After the transaction, Buterin spoke about the sale on X.
He voiced his support for memecoins contributing to charitable causes.
He mentioned that he donates any tokens sent to him to charity.
This includes the MOODENG tokens, which he directed towards anti-airborne disease technology.
Impact of Buterin’s Sale on MOODENG
The sale resulted in a 20% decrease in MOODENG’s price, taking it down to $0.10.
This happened despite Buterin’s explanation of the sale.
Kanro, co-founded by Buterin, allocates resources to solutions for pandemics.
It particularly focuses on low-income countries, and on open-source or IP-free projects.
In November 2023, Kanro donated $15 million to the PolyBio Research Foundation.
The donation was aimed at supporting research and clinical trials on SARS-CoV-2.
MOODENG is a memecoin that was launched on Solana through Pump.fun.
It was inspired by Moo Deng, a baby pygmy hippopotamus from Thailand.
The token has rapidly gained popularity, with over 18,000 holders.
It has surpassed a market cap of $100 million, with a 24-hour trading volume of $145 million.
