Vitalik Buterin, co-founder of Ethereum (ETH), sent 500 Ethereum (ETH) to the Dogecoin Foundation, the foundation associated with Dogecoin (DOGE). That amount, at the time of writing, equates to more than $1 million. Here are the transaction and its details…
Vitalik Buterin sent $1 million worth of ETH to the Dogecoin Foundation
A transaction in Buterin’s Ethereum wallet, the second largest crypto by market cap recorded in the currency network. According to Etherscan data, the transaction took place 9 days ago. Buterin sent 500 ETH, worth almost $1.03 million at the time of writing, to the address “0x5178c829b446aa25e4cf753bd3e9bb5f9d4db761”. This wallet address is listed on the Dogecoin Foundation’s website. As we have also reported as
Kriptokoin.com , Buterin is the consultant of the foundation. He was elected to the board of directors in August 2021 after the organization was revived after a six-year hiatus. The Ethereum co-creator said he loves DOGE and hopes to see the meme token migrate to a proof-of-stake (PoS) mechanism.
Latest situation in DOGE price
Currently, Dogecoin (DOGE), the eleventh largest cryptocurrency by market cap, is trading around $0.088. Although the cryptocurrency is up 0.6 percent on a daily basis, the 7-day exchange seems to be a 28 percent loss due to the carnage in the overall crypto market last week. The 14-day loss of DOGE is observed at the rate of 33.4%.
Dogecoin started as a “fork” from Litecoin in December 2013. It was created by Billy Markus and Jackson Palmer. Since then, crypto, which was initially seen as a joke, has become one of the most popular and popular coins on the market. Being among the top 20 cryptos is a big deal for any crypto project. There are more than 4,000 crypto projects currently in existence. DOGE’s transition to a proof-of-stake (PoS) mechanism is still being worked on, although there is no clear timeline for when that will happen. DOGE is about 90 percent below its all-time high of $0.73, which it saw on May 8, 2021.
