Ethereum Founder Inspires A Third Meme Coin In A Week

Vitalik Buterin Is Having An Elon Musk Effect On The Crypto Community, Sparking The Meme Coin Craze of 2022.

In a tweet on Friday, Ethereum founder Vitalik Buterin proposed conditional burns as a solution to Twitter spam bots, saying the recipient of a message should have the right to force a user to burn a hypothetical token X if the response is not to their liking. 

Conditional burn is better imo. Recipient should have the right to force you to burn $X (or donate it to charity), but if the recipient is happy with your message it should cost nothing.https://t.co/rTUu3DMU0v

— vitalik.eth (@VitalikButerin) October 21, 2022

Notably, Buterin’s suggestion came in response to a proposal from FTX’s Sam Bankman-Fried that social media messages be hosted on-chain. According to SBF, paying gas fees for messages will likely discourage spam bots. However, Buterin expressed the belief that conditional burns are better, an idea that got the support of SBF.

ya that makes sense!

— SBF (@SBF_FTX) October 21, 2022

It is worth noting that despite the conversation context, a portion of crypto Twitter was only interested to see if someone would create an X token that would pump hard, as we have seen in the past week.

LMFAO @VitalikButerin shilling yet ANOTHER shitcoin $X.

The meme coin times are back it seems & I’m all for it😂 https://t.co/9GoE2hMPxm

— Classy 👾 (@ClassyCrypto_) October 21, 2022

And again, in a matter of hours, not just one but two X tokens were launched—one on the Ethereum chain and one on the Binance chain. Notably, the one on the Ethereum chain appears to have garnered the most attention. In less than 24 hours, it is already up by 3,888%, with a total market cap of over $1 million, according to data from DEXTOOLS. On the other hand, the BSC token appears to be struggling. It is already down 74.59% and has a meager market cap of $262.

As reported by The Crypto Basic, two meme tokens were born this week, THE and DIE, inspired by Vitalik Buterin. Unlike their predecessors, neither X tokens have been able to attract a listing on a central exchange as of press time. Still, it will not be surprising to see, especially if the ERC20 token continues to garner a huge following.

X becomes the third meme coin that Buterin has inspired through his tweets in a week. As highlighted by one user, Buterin has the same effect Elon Musk had in 2021. It also points to just how quiet the crypto markets are and the desire for volatility amongst the crypto faithful.

😂😂😂😂😂 Vitaldik legit doing with Elon Musk did in 2021 😂😂😂 Gamestonk!!!!! https://t.co/ba2guz7kbj

— 🧌 Jigsaw McGraw – SaitaRealty Champ🤘🏼🐺 🏠 🧱 (@Jigsaw_McGraw) October 22, 2022

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