- Neiro CTO asks Vitalik Buterin to donate some of the proceeds to a stray dog shelter.
Following this sell-off, the Neiro (NEIRO) token experienced a decline of 60%.
As a seasoned analyst with over two decades of experience in the financial markets, I have witnessed numerous instances where high-profile personalities can significantly impact the market dynamics, particularly in the unpredictable world of cryptocurrencies. The recent events surrounding Vitalik Buterin and Neiro (NEIRO) serve as a stark reminder of this fact.
Amid escalating geopolitical conflicts, rising Japanese interest rates, and various other influencing factors, the cryptocurrency market is experiencing a severe downturn or crash.
In the midst of intense selling activity, Vitalik Buterin, one of Ethereum‘s [ETH] founders, sold his entire 4% stake in the recently introduced Neiro (NEIRO) meme token.
Vitalik Buterin dumps Neiro
In July 2024, reports from blockchain news outlets indicate that the Neiro community moved a significant amount of 17.1 billion NEIRO tokens to the digital wallet owned by Vitalik Buterin after the token’s launch.
The main purpose of this was to promote the token while highlighting Buterin as the largest holder.
In a post on X (previously Twitter) on 3rd August, Neiro CTO shared,
“Our platform operates on the public blockchain known as Ethereum, serving the needs of the people. An interesting tidbit: Vitalik Buterin holds the most Neiro tokens, amounting to approximately 4% of the total supply, which is currently valued at around $130k.”
Two days following the initial post, Ethereum co-creator Buterin moved all his 17.1 billion NEIRO tokens to the centralized trading platform UniSwap in exchange for approximately 44.4 Ethereum. This significant transfer led to a steep drop of around 60% in the price of NEIRO.
At present, multiple meme tokens labeled as Neiro are circulating in the market, leading to perplexity among potential investors and traders. Interestingly, some of these Neiro tokens have soared by an astounding 160%, whereas others have plummeted by 70%-80%.
Neiro CTO’s request
In response to Vitalik Buterin selling a large amount of his NEIRO shares, the company’s Chief Technology Officer once more took to social media, urging him to contribute part of the earnings towards a local homeless dog sanctuary. He emphasized that even a small contribution could make a significant difference in these animals’ lives.
Dear VitalikButerin, it appears you’ve recently sold your Neiro bag. We kindly request that you consider donating a portion of the earnings to a local stray dog shelter. Additionally, we would like to express our gratitude for creating our playground! Thank you.
Market overview
Amid Buterin’s recent dump, the overall cryptocurrency market is burning like wildfire.
In the past day, significant drops were seen in the prices of major cryptocurrencies like Bitcoin (BTC), Ethereum (ETH), Solana (SOL), and BNB (BNB). The declines amounted to 14%, 22%, 18%, and 17% respectively.
Furthermore, notable meme tokens like Dogecoin (DOGE), Shiba Inu (SHIB), and Pepe (PEPE) saw a drop in their prices by approximately 20%, 18%, and 25% respectively over the same time frame.
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2024-08-05 19:03