In the afternoon of this Wednesday, Vitalik Buterin liquidated the tokens he had received as gift from meme coins.
First, Vitalik removed 49.5% of the total SHIB from this market’s liquidity pool on Uniswap, as he owned half of the total Shiba Inu issuance which had been gifted to him by Shiba Inu founders.
As the transactions are showing, Vitalik sold 22 billion of SHIB on Uniswap V3 and, 25 billion on Uniswap V2.
You may be curious about why so many SHIBs were given to Vitalik.
It was a kinda act to encourage purchases and boom the market than other coins. Also VB owns 330,000 ETH, which is equivalent to more than 1 billion dollars, the Shiba Inu founders may have hoped that Vitalik would not sell them or destroy them directly.
Vitalik donated meme coins to charity
VB took part of the money obtained from his sales and transfers for a good deed.
India has reported total 23,300,000 cases and 254,000 deaths of COVID, while worldwide total case is around 160,000,000.
Reporters said, “People will die in the same way in the third and fourth waves as they have this time” without more vaccines.
The sad truth is that the government and relief organizations can’t even slow it down due to lack of funding.
Vitalik donated more than 16,000 ETH in addition to 50 billion SHIB tokens to the India Covid Relief Fund, a recently launched cryptocurrency fund to address the health emergency that the coronavirus generates in India at the moment.
This amount of SHIB tokens Vitalik donated is equivalent to 1 billion dollars.
However, it is virtually impossible impossible amount to liquidate at the moment.
The Shiba Inu community seems to consider this as a positive attitude.
The founder of the project considered, in a Twitter, that this move would start “true decentralization” in Shiba Inu.
As the market has shown for the last few weeks, meme coins have grown as the rival to dogecoin and powerful community on earth.
Our Kuma Inu project will continue despite this wave, so time will tell how far the fever of Kuma ecosystem will reach.
Warm welcome to SHIB, KUMA lovers!!!