Ethereum founder Vitalik Buterin has transferred 32 ETH ($99,543) to the Base platform and minted 400 Patron NFTs. This event has sparked a wave of optimism within the crypto community, raising hopes for renewed interest in NFTs. Against the backdrop of a growing crypto market, many are wondering whether this marks the beginning of a new rise for the non-fungible token market.
Buterin’s Transaction and Its Potential Significance
On November 19, an address associated with Vitalik Buterin (vitalik.eth) used 32 ETH (~$100.5K) to mint 400 Patron NFTs on the Base network. Reports indicate that these tokens are part of the Truemarkets Fair launch, where over 40% of the TRUE token supply will be distributed to Patron holders during the upcoming Token Generation Event (TGE).
Notably, Patron NFTs play a key role in the Truemarkets ecosystem, providing holders with benefits in token distribution. Previously, the decentralized trading platform Infinex, affiliated with Synthetix, raised $65.3M through the sale of these NFTs, indicating growing investor interest in this initiative.
Signs of a Revival in the NFT Market
Buterin’s transaction has sparked hope within the community for a possible revival of the NFT market. For the first time since June, the floor price of CryptoPunks has risen to $100K, with the collection’s total market capitalization, according to CoinGecko, exceeding $1.11B (359.6K ETH).
