Neiro Ethereum Soars 45% Despite Vitalik Buterin’s Massive Sell-Off

The post Neiro Ethereum Soars 45% Despite Vitalik Buterin’s Massive Sell-Off appeared first on Coinpedia Fintech News

After a massive crash across the cryptocurrency landscape, the market is now recovering. Amid this price rebound, the recently launched Neiro Ethereum (NEIRO) meme coin has gained massive attention from crypto enthusiasts as it experiences a substantial price surge.

NEIRO Ethereum skyrockets 45%

Today on August 6, 2024, the NEIRO has seen a notable price surge of over 45% and is currently trading near the $0.224 level. Additionally, it also reached a new all-time high. This massive price surge in the last 24 hours, made NEIRO a trending coin on Coinmarketcap. 

Meanwhile, its trading volume has also jumped by 10% during the same period. This increase in trading volume indicates a higher level of participation from investors and traders. With the price surge and trading volume, the NEIRO market cap has reached $222 million of market cap and crossed the $200 million milestone, according to Coinmarketcap data.

Vitalik Buterin’s NEIRO holding update

Yesterday, during the market crash, Ethereum co-founder Vitalik Buterin sold his entire 17.1 billion NEIRO holdings for 44.4 Ethereum (ETH) as shared by Wu blockchain. Following the sell-off, NEIRO initially plunged by 60% but later skyrocketed. 

Vitalik dumped the Meme Neiro on Ethereum. Neiro transferred 17.1 billion Neiros (4% of the total) to Vitalik's address, and used this to promote Vitalik as the largest holder. Vitalik then sold the 17.1 billion Neiros in exchange for 44.4 ETH, causing the price of Neiro to…

— Wu Blockchain (@WuBlockchain) August 5, 2024

According to the report, Vitalik was the largest holder of NEIRO tokens as he holds over 4% of the total circulating supply. Following that sell-off, Neiro’s CTO made a post on X (previously Twitter), asking Vitalik to donate some of the proceeds to a stray dog shelter.

However, it was the NEIRO CTO who disclosed that Vitalik was the largest NEIRO holder, with a 4% share of the total supply.

We are the people's $Neiro, on the people's chain, @ethereum.

And a little fun fact: @VitalikButerin is currently our largest holder. (4% of supply, ~$130k value as of the time of this post)

— Neiro on Ethereum (CTO) (@neiroethcto) August 3, 2024

Besides all these updates, there are many Neiro tokens available on the interest, which is creating confusion among traders and investors and may cause a big blunder in the coming days. The community members must address this problem. 

Market Overview

In addition to the NEIRO price surge, other top assets including Bitcoin (BTC), Ethereum (ETH), and Solana (SOL) are also making waves in the crypto landscape. In the last 24 hours, BTC, ETH, and SOL have experienced a notable price surge of over 5%, 7%, and 17% respectively.