Ethereum co-founder liquidates meme coins for a $1 million donation to Coin Center, amid market consolidation.
Meme Coin Profits Fuel Buterin’s Ethereum Donation
Vitalik Buterin, co-founder of Ethereum, recently sent 320 ETH worth $1,094,088 to Coin Center, a nonprofit focusing on cryptocurrency policy. Buterin has been a known philanthropist, occasionally donating a portion of his income. This time, the funds came from meme coin sales, a practice he employs to turn speculative tokens into philanthropic contributions.
Ethereum Market Holds Steady at $3,400
Ethereum trades near $3,400, with support at $3,100 and resistance at $3,500. The price chart shows consolidation following a strong rally earlier this month. The crypto community is expecting ETH price to keep at its “honeypot pattern,” according to X user @WazzCrypto.
$ETH forming a clear honeypot pattern as we speak
Technical Indicators Show Promising Signs
The Relative Strength Index (RSI) stands at 64, indicating potential for further growth. A breach above $3,500 could target $3,800, while failure to hold $3,100 might lead to $2,900.
Buterin’s Actions Reflect Ethereum’s Strength
Vitalik Buterin’s high-profile donation highlights Ethereum’s liquidity and relevance. While unrelated to immediate market moves, it underscores confidence in the network’s enduring value.
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