Massive Shiba Inu (SHIB) burn by Ethereum creator Vitalik Buterin enters crypto history books
Conor Grogan, a Coinbase director, recently took to Twitter to provide a list of the most expensive crypto-transactions he was aware of by chain. The Ethereum network’s $4.4 billion transfer between Binance wallets on May 7, 2022, ranked first on his list. On February 22, Binance moved $1.94 billion to cold storage, putting it in second place.
In June 2018, Tron founder Justin Sun transferred $1.46 billion to the Huobi exchange. This came in fourth place. Subsequently, in April 2020, $1.1 billion in BTC was transferred from Bitfinex to replenish its exchange hot wallet. Among these notable transactions is a $65.53 million XRP transfer from Bitso to Bithumb. While all these transactions are notable, none compare to Ethereum co-creator Vitalik Buterin’s huge 410 trillion Shiba Inu burn.
Did not include transactions to burn addresses; if I did, @VitalikButerin burn of $7B in SHIB would probably be #1 of all time
Note: Cardano, Solana, Avalanche, Optimism, and others not included due to challenges navigating blockchain infrastructure there (Wen @ArkhamIntel?) pic.twitter.com/WXXeeNtqhp
— Conor (@jconorgrogan) March 26, 2023
Grogan claimed that if transactions to burn addresses are included, Vitalik Buterin’s $7 billion may be the most of all time. This amount exceeds the $4.4 billion ETH transfer between Binance wallets. Grogan also claims that he did not include $13 billion in BETH burned back on June 7, 2022, in his list due to a lack of clarity on the transaction.
Ethereum co-creator Vitalik Buterin burned 90% of his SHIB holdings, totaling around $7 billion, in May 2021, stating that he did not want to be a locus of power of that kind. Buterin had been given half of SHIB’s whole supply involuntarily.
Over 410 trillion tokens were sent to a dead blockchain address in a single transaction, effectively removing them from circulation. The remaining 10% was set aside for charitable purposes by Buterin.
- Shiba Inu Burned In Week Amount To Millions Of Tokens As SHIB Forms Predictable Pattern
- Shibarium To Contribute Immensely To Shiba Inu (SHIB) Burns, Up To 70% Base Fee
- Dogecoin Foundation Unveils Significant Libdogecoin Toolset Update With Libdogecoin 0.1.2