- The foundation received a donation of 432 trillion ELON tokens from Vitalik Buterin.
- They have added 83 trillion tokens to Uniswap’s liquidity pool.
The crypto market’s prolonged battle to break the bearish pressure continues, with certain signs of recovery from recent downturns. It drove the overall market cap to $2.29 trillion, spiked over 2.20% in the past 24 hours. The leading cryptocurrencies, Bitcoin (BTC) and Ethereum (ETH), have gained over 2%.
Amid this, blockchain analytics has reported that the Methuselah Foundation, a nonprofit organization, began selling its ELON holdings. The foundation received 432 trillion ELON, accounting for 43% of the total supply, from Ethereum co-founder Vitalik Buterin in 2021 as a donation. Besides, they have added around 83 trillion tokens to Uniswap’s liquidity pool. It is expected to start selling once the ELON price exceeds $0.00001207.
In 2021, Vitalik donated over $1 billion in crypto to the COVID relief fund and other charities. He has donated by offloading dog-themed meme tokens, Shiba Inu (SHIB), Dogelon (ELON), and Akita Inu (AKITA).
The ELON tokens were transferred to the Methuselah Foundation with the aim that the foundation would manage them without destabilizing the market. Moreover, the foundation has announced that it will manage those holdings to maximize the token’s long-term value and advance its mission.
Price Momentum of ELON
The price of ELON is currently trading at $0.0000001523, after witnessing a gain of over 6% in the past 24 hours. The token’s daily trading volume has soared by 6.40% to $3.30 million, as per CMC data.
Zooming in over the past seven days, the token has increased over 23.90%. The asset started trading at $0.000000123 and eventually it climbed up to $0.0000001326.
Looking ahead, the asset’s upside correction may trigger the price to hit a high in the $0.00000016 range. Conversely, the asset could drop if the current momentum breaks down. It may fall back to a low of $0.0000001428.
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