• Advertise
  • Submit a Press Release
NewsBTC
Bitcoin & cryptocurrency news
Crypto.com Logo
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play GamesTry
  • Bet & WinTry
  • Spin & WinTry
No Result
View All Result
NewsBTC
No Result
View All Result
Vitalik Buterin SHIB Ethereum ETHUSD
Nexo Logo

Vitalik Buterin Dumps His SHIB, Price Tanks 30% In 1 Hour

Reynaldo Marquez by Reynaldo Marquez
1 year ago
in Ethereum
Reading Time: 2 mins read
Advertisement

Ethereum inventor, Vitalik Buterin, might have single handily put a halt to the meme coins mania, at least, in the short term. Buterin was the recipient of 50% of the entire supply of Shiba Inu (SHIB), a token that saw a surge in interest after major exchange platforms added it to their products for the spot and derivatives market.

In a donation spree, Vitalik Buterin sent his SHIB tokens, along with ELON, MIRI, and AKITA to several charity foundations. Ethereum core developer Hudson Jameson made a list of the charity project and the amounts they received.

The Gitcoin Community, a Web3 based project with a large number of open-source developers, received all AKITA tokens into their Multi-Sig address. The Methuselah Foundation, a non-profit organization focused on extending the human lifespan, received all ELON tokens and 1,000 ETH.

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

The MIRI organization, an artificial intelligence project with the objective of developing the mathematical theory of trustworthy reasoning for autonomous AI systems, according to their official website, received 1,050 ETH. The Charter Cities Institute, created to improve human life by “building the ecosystem for charter cities”, received 500 ETH.

Vitalik Buterin Dumps, But For A Good Cause

In April, Vitalik Buterin donated $500,000 in ETH to Polygon’s co-founder, Sandeep Nailwal, an initiative to aid India’s Covid-19 relief campaign, CryptoRelief. Now, he sent the organization 500 ETH and 10% of his SHIB supply which it’s estimated at around $1 billion.

Via their Twitter handle, the organization confirmed the donation of 50,693,552,078,053 SHIB and stated the following:

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

We plan to do a thoughtful liquidation to ensure we meet our COVID relief goals. We have decided to convert the donation slowly over a period of time.

Nailwal also confirmed via his Twitter account that they plan to be “responsible” with the donations. Therefore, they plan to use the funds without “hurting” the SHIB community. He reassured SHIB holders that they have no reasons to be worried.

In response, SHIB community members claimed that Buterin’s donation could be amongst the largest in history and could attract new users into the Shiba Inu ecosystem. User “SHIB Informer” said the following:

We are not worried at all. The #SHIBArmy is strong. Today Vitalik Buterin did a lot of moves, and a portion of this involved this donation (can this be the biggest in history? Anyone knows?). The best for $SHIB is yet to come.

Buterin’s donations were generally praised by the crypto space. Many agreed that the funds will be better used by the aforementioned organizations and will contribute to the de-congestion of Ethereum’s network.

The tokens donated by Buterin saw massive drops in their price. ELON had a 95% correction. SHIB losses were minor in comparison, and since then the price has been recovering. At the time of writing, SHIB trades at $0,000021 with a 37.4% loss in the daily chart and a 1,258% gain in the 7-day chart.

Vitalik Buterin Ethereum ETHUSDT
SHIB with massive losses after Buterin’s donation spree. Source: SHIBUSDT Tradingview
Tags: ETHethereumethusdSHIBShiba InuVitalik
Tweet123Share196ShareSend
Win up to $1,000,000 in One Spin at CryptoSlots
Reynaldo Marquez

Reynaldo Marquez

Related Posts

Investors May Expect Downside For Bitcoin And Ethereum Market For The Next 3 Months

Investors May Expect Downside For Bitcoin And Ethereum Market For The Next 3 Months

2 days ago
Ethereum Uniswap UNI UNIUSDT

How Ethereum’s Uniswap Reached A Milestone Of $1 Trillion In Trading Volume

2 days ago
bitcoin, ethereum

Bitcoin, Ethereum Exchange Inflows Suggest Sell-Offs Are Far From Over

2 days ago
Lido

Lido (LDO) Sheds 58% Of Its All-Time High TVL At $11 Billion

3 days ago
Ethereum Prepares For Ropsten Testnet Merge As Token Struggles To Hold $2k Support

Ethereum Prepares For Ropsten Testnet Merge As Token Struggles To Hold $2k Support

1 week ago
Ether

Blockchain Data Indicates $10M Worth Of Ether From The Ronin Exploit In Rotation

1 week ago

Premium Partners

Top Brokers

PrimeXBT

PrimeXBT

Review · Visit

Top Casinos

BitStarz

BitStarz

Review · Visit
7BitCasino

7BitCasino

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Wildcoins Casino

Wildcoins Casino

Review · Visit
CryptoSlots

CryptoSlots

Review · Visit
mBit

mBit

Review · Visit
CryptoGames

CryptoGames

Review · Visit
Bspin

Bspin

Review · Visit

Sportsbooks

1xBit

1xBit

Review · Visit

Interest-free Loan, New way of Assets Increase

May 26, 2022

Hoskinsea Partners with Pavia land to Setup A Virtual Headquater On The Metaverse

May 26, 2022

The first free and equal digital country – HyperNation global theme conference was held

May 26, 2022

HyperNation’s event launch sales on HITCHHIKER OF STAR (H.O.S) went out like wildfire

May 26, 2022

Metaverse Real Estate Sells For A Record $5,000,000 inside TCG World

May 26, 2022

ABOUT US

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

COMPANY

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

LINKS

Crypto Prices from Nomics

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

© 2021 NewsBTC. All Rights Reserved.

  • Home
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
  • Play Games
  • Bet & Win
  • Spin & Win

© 2021 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.