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 on Buterin’s Ethereum wallet was recorded on the second largest cryptocurrency network by market cap. 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.
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