Categories: Market

The number of SHIBs burned by Vitalik Buterin now increases five-fold to 32.5 billion

In early May, when Vitalik Buterin burned more than $ 6.7 billion in SHIB tokens, that number has now almost quintupled to $ 32.5 billion.

Previously, anonymous Shiba Inu developers marketed the project by sending 50% of the total SHIB supply to Vitalik Buterin’s wallet address to be removed from circulation.

The founders expect the SHIB price to rise as long as demand for it grows and supply remains limited.

At the time, Buterin held 505 trillion SHIBs worth about $ 8 billion in May when the information was released. Bitcoin magazine Report.

Instead of disappointing SHIB fans by selling them, Buterin kept them for a while.

What happened next?

At the end of May, Buterin donated the SHIB number he received to various charities around the world. For example, he gave SHIB 50 trillion (then about $ 1.2 billion at the time) to the Indian Covid-19 Relief Fund.

Five days after the community learned that part of the SHIB was donated to charity, Buterin continued to burn the remaining 90%. He sent 410 trillion SHIB (then $ 6.7 billion at the time) to a dead blockchain address and removed it from circulation.

Buterin has a. attached note into another transaction at the time, which makes it clear that he would like cryptocurrency makers to give them to charities:

“I don’t want to be that kind of person in power.”

Source: etherscan.io

At current prices, SHIB Buterin burned US $ 32.5 billion.

But the reality is, if Buterin still held it, Shiba Inu might not have hit its current high price tag. Furthermore, due to the sudden excess flooding the market, the price of the Shiba Inu would surely go down if he were to sell it.

follow Etherscan, Buterin still holds 3,457,471 SHIB valued at $ 268.

Join Bitcoin Magazine Telegram to keep track of news and comment on this article: https://t.me/coincunews

Teacher

After decryption

Follow the Youtube Channel | Subscribe to telegram channel | Follow the Facebook page

CoinX

Recent Posts

Inflation Warning By Vanguard Amid Tariffs And Labor Issues

Inflation Warning by Vanguard highlights risks during Trump’s term, citing tariffs and tighter labor markets…

7 minutes ago

Clanker Token Trading Volume Hits $59.8 Million High

Clanker token trading volume hit $59.8M on Nov 21, accounting for 14.75% of PumpFun. Fee…

35 minutes ago

Bitcoin Spot ETF Inflows Hit $1 Billion Led By BlackRock

Bitcoin Spot ETF inflows hit $1.005B on Nov 21, led by BlackRock’s $608M and Fidelity’s…

58 minutes ago

New York Techie Bagged $72M from $15K Investment in Ethereum — Here’s How BlockDAG Can Offer Similar Jackpot

Discover the success story of a New York tech entrepreneur who made $72M from a…

1 hour ago

Best Altcoins to Buy Today: Qubetics Rides 1000x Potential to Hit $2.6M, Ethereum Stays Rangebound, Tron USDT Transactions Hit $52B

Discover the best cryptos to buy and hold today: Qubetics leads with 1000x potential, Ethereum…

3 hours ago

Trump Media Company Is Pushing New Venture For Crypto Service

With the platform facing a cracked whip, Trump Media company is expanding into new business…

4 hours ago

This website uses cookies.