Breaking News
0
Ad-Free Version. Upgrade your Investing.com experience. Save up to 40% More details

Vitalik Buterin Burns 410 Trillion SHIB After Donating to India Relief Fund

CryptocurrencyMay 17, 2021 04:30AM ET
Saved. See Saved Items.
This article has already been saved in your Saved Items
 
Vitalik Buterin Burns 410 Trillion SHIB After Donating to India Relief Fund

  • Ethereum Founder Vitalik Buterin burned 410 trillion Shiba Inu (SHIB) tokens
  • The value of the burned amount goes to almost up to 7 billion dollars
  • Vitalik also donated 1.5 billion dollars worth of SHIB to the India COVID-Crypto Relief Fund

Ethereum Founder Vitalik Buterin recently burned 410 trillion Shiba Inu (SHIB) tokens. The value of this amount goes up to 7 billion dollars. Buterin initiated the burn transaction after donating 50 trillion SHIB, worth around $1 billion at the time of the transaction, to the India COVID-Crypto Relief Fund.

After a recent dump in the price of SHIB, Buterin decided to burn 90 percent of the SHIB tokens in his wallet. This makes up 41 percent of the SHIB’s total circulating supply. Immediately after this was done, SHIB’s price shot up by 40 percent.

Crypto influencer and technical analyst Lark Davis was quick to react to this development. “Vitalik just burned billions of dollars worth of $shib, WOW!!!,” he said.

Aside from SHIB, Buterin also made donations using other meme-themed dog tokens Dogelon (ELON) and Akita Inu (AKITA) which he received from its creators.

Netizens reacted to this stunt with various sentiments, some speculate that this was done to help increase SHIB’s price for the relief fund.

In the transaction hash, Buterin wrote, “I’ve decided to burn 90% of the remaining shiba tokens in my wallet. The remaining 10% will be sent to a (not yet decided) charity with similar values to cryptorelief (preventing large-scale loss of life) but with a more long-term orientation. Covid is a big problem now, but it’s important to think about the longer term future too!”

This article was first published on coinquora.com

Continue reading on CoinQuora

Vitalik Buterin Burns 410 Trillion SHIB After Donating to India Relief Fund
 

Related Articles

Powers Bitcoin payments from any wallet
Powers Bitcoin payments from any wallet By DailyCoin - Jun 24, 2021

100m+ crypto users now have even more ways to spend their BTC HONG KONG, 24rd June 2021 — Crypto.com today announced that Crypto.com Pay – the company’s...

Kraken to Back Kusama Parachain Altair Crowdloan
Kraken to Back Kusama Parachain Altair Crowdloan By CoinQuora - Jun 24, 2021

Altair, the Kusama parachain Altair will soon launch a crowdloan Kraken will support the Altair crowdloan On May 20, Centrifuge introduced the world to Altair. The home for...

Add a Comment

Comment Guidelines

We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind: 

  • Enrich the conversation
  • Stay focused and on track. Only post material that’s relevant to the topic being discussed.
  • Be respectful. Even negative opinions can be framed positively and diplomatically.
  •  Use standard writing style. Include punctuation and upper and lower cases.
  • NOTE: Spam and/or promotional messages and links within a comment will be removed
  • Avoid profanity, slander or personal attacks directed at an author or another user.
  • Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
  • Only English comments will be allowed.

Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.

Write your thoughts here
 
Are you sure you want to delete this chart?
 
Post
Post also to:
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Thanks for your comment. Please note that all comments are pending until approved by our moderators. It may therefore take some time before it appears on our website.
Comments (1)
Raman singh
Raman singh May 17, 2021 7:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
thx vb
joe hayes
joe hayes May 17, 2021 7:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
is it good for shiba what he done ?
Olwethu Msizi
Olwethu Msizi May 17, 2021 7:24AM ET
Saved. See Saved Items.
This comment has already been saved in your Saved Items
joe hayes it is a great thing for the shiba community....
 
Are you sure you want to delete this chart?
 
Post
 
Replace the attached chart with a new chart ?
1000
Your ability to comment is currently suspended due to negative user reports. Your status will be reviewed by our moderators.
Please wait a minute before you try to comment again.
Add Chart to Comment
Confirm Block

Are you sure you want to block %USER_NAME%?

By doing so, you and %USER_NAME% will not be able to see any of each other's Investing.com's posts.

%USER_NAME% was successfully added to your Block List

Since you’ve just unblocked this person, you must wait 48 hours before renewing the block.

Report this comment

I feel that this comment is:

Comment flagged

Thank You!

Your report has been sent to our moderators for review
Disclaimer: Fusion Media would like to remind you that the data contained in this website is not necessarily real-time nor accurate. All CFDs (stocks, indexes, futures) and Forex prices are not provided by exchanges but rather by market makers, and so prices may not be accurate and may differ from the actual market price, meaning prices are indicative and not appropriate for trading purposes. Therefore Fusion Media doesn`t bear any responsibility for any trading losses you might incur as a result of using this data.

Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
Continue with Google
or
Sign up with Email