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How ETH Founder Inspired 3 Meme Coins this Week with Over $1M Cap

Cryptocurrency Oct 22, 2022 04:00AM ET
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How ETH Founder Inspired 3 Meme Coins this Week with Over $1M Cap
 
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  • The founder of Ethereum has sparked the creation of the third shitcoin this week.
  • Buterin suggested conditional burns as a countermeasure to Twitter spam bots.
  • The shitcoin increased by 3,888% within 24 hours, with a market cap of over $1 million.

The founder of Ethereum, Vitalik Buterin, is currently having an Elon Musk-like effect in the crypto community, igniting a trove of meme tokens.

In a tweet yesterday, Buterin suggested conditional burns as a countermeasure to Twitter spam bots. He argued that if the recipient of a message is unhappy with a user’s response to them, they should have the authority to force the user to burn a fictional token X.

Notably, his comment was in response to a proposal by the CEO of the crypto exchange FTX, Sam Bankman-Fried (SBF). SBF proposed that social media messages are hosted on-chain, and charging gas fees for communications will probably deter spam bots.

Not too long after the idea-sharing session before, a blockchain developer launched two X tokens, one on the Ethereum chain and the other on the Binance chain (BSC). Interestingly, the coin on the ETH network attracted the most enthusiasm.

According to information from DEXTOOLS, X-ETH has increased by 3,888% in less than 24 hours and has a total market cap of more than $1 million. On the other hand, the BSC token is struggling, having declined by 74.59% and with a tiny $262 market cap.

Previously this week, meme tokens THE and Die came live, both inspired by the Ethereum founder. The launch of X brought back some excitement in the crypto industry, thanks to Vitalik Buterin. None of the three meme coins have made it to any significant crypto exchange.

The post How ETH Founder Inspired 3 Meme Coins this Week with Over $1M Cap appeared first on Coin Edition.

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How ETH Founder Inspired 3 Meme Coins this Week with Over $1M Cap
 

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