Ethereum

Vitalik Buterin Ethereum’s Founder Cashes Out 2.75 Trillion CatCoins

20 hours ago
Bitcoin Ethereum News

Ethereum’s co-founder Vitalik Buterin has done it again, and the memecoin crowd is feeling it.

As reported by LookOnChain, Vitalik just sold a massive 2.75 trillion CAT tokens, worth 14,216 USDC, from his wallet. The tokens were part of a free airdrop he received just days ago.

On October 30th, blockchain sleuths spotted the move: 2% of the total $CAT supply, gone in a single transaction.

The sell came shortly after CatCoin’s official X account proudly announced they had sent 2% of the entire supply (275 trillion CAT) to vitalik.eth. The community cheered. The memes flowed. The dream of “Vitalik’s cat season” began.

Then Vitalik sold it.

And just like that, the hype train screeched to a halt.

The CAT Hype That Went Purrfectly Wrong

Just three days before the sale, CatCoin’s team had tweeted with excitement:

“We’ve just sent 2% of the total supply (275,000,000,000,000 $CAT) to vitalik.eth 🐱, Now it’s in @VitalikButerin’s hands to make CATCOIN the next 100x memecoin on Ethereum and lead the new meme era.”

For a moment, the plan looked flawless. The team leveraged Vitalik’s wallet as a marketing catalyst, and it worked. The CAT chart spiked. Liquidity surged. Traders rushed in hoping Vitalik’s wallet would be the ultimate stamp of legitimacy.

But Vitalik, true to his track record, didn’t play along.

He sold.

And that one move became the headline across crypto Twitter.

Vitalik’s Meme Coin Routine

This isn’t the first time Vitalik has been sent “free” tokens, or sold them.

Back in 2021, during the height of the meme coin boom, he famously received billions in Shiba Inu (SHIB) and other meme tokens as “gifts.” Instead of keeping them, he donated large chunks to charity or burned them completely.

It was his polite way of saying: “Stop doing this.”

So when CatCoin dropped tokens into his wallet again, most seasoned traders knew what was coming.

Still, it didn’t stop the frenzy.

The idea of “Vitalik’s cat” quickly became a meme of its own, a new flavor in the never-ending rotation of crypto animal coins. But the Ethereum founder doesn’t play meme politics.

This latest sale only reaffirms that stance: Vitalik won’t endorse unsolicited tokens.

Whether it’s a strategic move or just cleaning house, it’s a reminder that even the biggest names aren’t immune to meme coin fatigue.

Within hours of the sale, CatCoin’s market cap plunged. Trading volume dropped sharply as short-term traders exited.

It’s a sharp reversal from the bullish spike just days earlier, when traders speculated the Vitalik tag would push the token into top-tier meme status.

The community’s response has been mixed.

Some took it lightly, joking that “Vitalik just declawed CatCoin.” Others expressed frustration, claiming that the project should never have airdropped that much supply to one wallet, especially his.

CatCoin’s Response: Grace Under Pressure

To their credit, the CatCoin team handled the moment with positivity.

Hours after the transaction was spotted, they tweeted again:

“Thank you @VitalikButerin for accepting our donation around National Cat Day 🐱

We truly appreciate it and hope to have your support in making CatCoin the next big memecoin on the Ethereum chain! 🚀

$CAT needs your support.”

The tone was diplomatic. No drama. Just optimism.

Still, most observers agree, the sell signaled the end of the short-lived hype cycle.

For a project that relied heavily on meme momentum, this was a reality check.

The Meme Coin Dilemma

Vitalik’s move once again highlights an ongoing dilemma in crypto: the “airdrop for attention” strategy.

Projects often send tokens to high-profile wallets, from Elon Musk to Vitalik, hoping for exposure or validation. It’s free marketing, until it backfires.

The problem? Most of these recipients never asked for the tokens and rarely support the projects.

For developers, it’s a gamble. For traders, it’s a trap.

Meme coins thrive on narrative, but when that narrative collapses, liquidity follows.

Vitalik’s Message to the Market

By selling, Vitalik didn’t just offload a few meme coins, he sent a message.

A reminder that not every token drop is worth holding. A reminder that Ethereum’s founder cares more about utility than virality.

He’s not the meme king. He’s the builder.

And his wallet, though often used for marketing stunts, remains a symbol of crypto’s transparency, where every move is public, and every transaction tells a story.

“Vitalik doesn’t dump projects. He dumps expectations,” one user wrote.

That sentiment captures it perfectly.

A Cat That Landed on Its Feet?

Despite the setback, CatCoin still holds a lively community.

The project continues to push its “meme utility” narrative, with plans for NFT collections, community staking, and cross-chain bridges.

It’s not the end. Just a rough chapter.

Crypto thrives on comeback stories, and if CatCoin can channel the attention into innovation, it may still find its place among the meme elite, alongside Doge, Pepe, and Bonk.

But for now, the Vitalik episode will remain a cautionary tale for meme projects everywhere.

Vitalik’s $14,216 USDC sale isn’t about the money, it’s about the message.

Six years ago, people sent him tokens as a marketing stunt. Today, it still happens. And each time, he reminds the market that influence can’t be bought.

The CatCoin saga might have been short-lived, but it perfectly captures the energy, and the chaos, of the memecoin era.

A market built on jokes, driven by hype, and humbled by reality.

And if there’s one takeaway from this latest twist?

Even in crypto, curiosity may kill the cat, but transparency always wins.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @nulltxnews to stay updated with the latest Crypto, NFT, AI, Cybersecurity, Distributed Computing, and Metaverse news!

Source: https://nulltx.com/vitalik-buterin-ethereums-founder-cashes-out-2-75-trillion-catcoins/