Ethereum co-founder Vitalik Buterin has sold another batch of meme tokens sent to his wallet for free, turning unwanted assets into USDC and ETH while on-chain traders tracked the movement in real time.
Lookonchain said vitalik.eth has been continuously selling free meme tokens and appears to be clearing out his wallet. In the past 24 hours, the wallet received 114,566 USDC and 155 ETH from those sales, with Lookonchain valuing the proceeds at about $355,000.
The move does not mean Buterin is selling a core Ethereum position. The tracked activity involved meme tokens that projects or traders had sent to his address, a common tactic used to gain attention by associating a token with a famous wallet.
However, recent data shows that Ethereum spot ETF outflows hit $87.8M with BlackRock leading the exit.
Meme coin teams often send tokens to high-profile wallets hoping traders will notice the holder list and buy into the narrative. But that strategy can backfire quickly when the recipient sells, donates, or ignores the tokens.
Vitalik’s latest cleanup is another reminder that an unsolicited wallet balance is not an endorsement. A token appearing in a major founder’s wallet does not mean the founder supports the project, joined the community, or plans to hold it.
For meme coin traders, the risk is simple. If a token pumps because it was sent to a famous wallet, the same wallet can become the biggest headline risk when those tokens are dumped back into the market. In this case, Vitalik turned the noise into liquid assets, while the affected meme coins were left with the sell pressure.
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