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HomeCryptocurrencyEthereum’s Vitalik Buterin Clears Wallet off Dog Cryptos Worth $4.3 Million

Ethereum’s Vitalik Buterin Clears Wallet off Dog Cryptos Worth $4.3 Million

Vitalik Buterin, the co-founder of Ethereum (ETH), has been clearing off his collection of Dogecoin copycats such as Small Doge, Baby Shiba, Kishu Inu, among others. All the dog-themed meme coins sold off by Buterin are worth relatively $4.3 million.

As a report has it, some of these coins were used to purchase tokens from Proof of Humanity’s UBI initiative and taken out of circulation.

Read Also: Vitalik Buterin Stresses Major Difference between Ethereum (ETH) and Bitcoin (BTC)

The Russian-Canadian crypto pioneer seemingly sold off huge numbers of six dog coins that were gifted to his Ethereum wallet. Aidi Inu, Jejudoge, and HuskyToken were also among the coins he sold. The transactions were facilitated via Uniswap, a decentralized exchange.

Since these dog coins are niche in terms of market share, their values are affected by a lack of liquidity. According to a report by Bitcoinuponly, the total amount collected by Buterin came close to $1.8 million instead of the full market price.

Read Also: Vitalik Buterin: London Hard Fork Success Gives Me More Confidence over Upcoming Chains Merge

Several dog coins have witnessed a notable price drop in recent days. Baby Shiba has recorded the worst price dip of 72%. The coin is presently trading at $0.000001388.

Buterin is accustomed to swapping his dog coins for funds that he invests in areas related to community service. Earlier in May, when the world was battling the horrific second wave of the COVID-19, Buterin had cleared his wallet off and donated $1 billion worth of Shiba Inu tokens to India’s COVID relief fund.

Read Also: Elon Musk Supports Dogecoin Co-Founder in His Quest to Make DOGE Users Run Their Own Nodes


His transaction data from Etherscan shows he spent almost $200,000 in purchasing and burning 8% of Proof of Humanity’s UBI token supply, adding to the value of existing tokens.

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Tobi Loba
Tobi Loba
Tobi Loba is a passionate writer with a vast interest in the stock market. She joined the crypto ecosystem about three years ago and has written lots of ebooks and articles in relation to cryptocurrency and blockchain projects. Tobi Loba earned her degree at the University of Ibadan.

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