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Vitalik Buterin has sent huge amount of “meme coins” that were presented to him to several charities. Buterin has sent 13,292 ETH worth $54 million, this price was at the time of the transaction, to Givewell, a non-profit association that estimates the fruitfulness of charities. He sent approximately $336 million worth of ELON to the Methuselah Foundation, a non-profit committed to tissue engineering and making “90 the new 50 by 2030.”

He granted another 1050 ETH worth over $4.2 million to the AI Safety association. An for the last part, he sent 500 ETH and over 50 trillion SHIB worth around $1.14 billion, of course at the time of the transaction, to the India Covid-Crypto Relief Fund.

Sandeep Nailwal, the co-founder of Polygon and the producer of India’s crypto covid relief fund, thanked Buterin on Twitter and made it Chrystal clear that the charity will sell SHIB as soon as possible so they won’t cause further drops in price.

Buterin donated over $1.5 billion in crypto donations at the time of the transactions. While this action seemed extraordinarily generous, these transactions caused some of these meme coins to decent in value and some questioned if he had an ulterior motivation,. According to Coinmarketcap, SHIB dropped over 38%, ELON took an over 70% hit and AKITA dropped 50% on the news.

Ironically, Buterin hadn’t even sold the coins and had just given them away But the news of him no longer holding them was enough to cause a panic selloff anyway. Holders of these tokens took a serious hit due to this panic. These coins are new to the ethereum network and have tried to clown the rise that Dogecoin (DOGE) has recently experienced, leading to many inexperienced investors flooding in.

The maker of these tokens had sent large quantities to Buterin hoping that he would hold them. These types of airdrops let any project to rope in well-known figures for marketing purposes without permission, as they can simply send tokens to a public address and claim that person’s participation in the project. At the point, it was reported that trillions of SHIB worth over $8 billion had been sent to him.

The density that these new meme coins make on the ethereum blockchain leads to an growth in fees and lack of usability for more important projects, amking others to question if Buterin’s donations were intended for more than just charity or some other porpuses.

One crypto-Twitter account called LilMoonLambo said, “Vitalik just pulled off a 350 IQ play. Kills meme coin hype which makes money return to $BTC and $ETH, sells his $SHIB for $ETH which takes away available supply and unclogs the network. Genius.”

Naabiae Nenu-B is a Medical Health Student and an SEO Specialist dedicated to flushing the web off fake news and scam scandals. He aims at being "Africa's Best Leak and Review Blogger" and that's the unwavering stand of Xycinews Media.

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Is Elon Musk’s Remark to #Hashledger Is Implying to #Hedera? Is This a Big Catalyst for HBAR Price?

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Hedera momentum is building, and with Elon Musk’s mention of #hashledger at the B-word event, it appears like the Hbarians’ celebration is just getting started. Elon Musk was referring to Hedera, as confirmed by a tweet from a founding member of the HBAR community.

HBAR is a cutting-edge technology that is being used by businesses all around the world. Hedera has grown to become one of the largest crypto networks in the world. As additional transactions are added to the network, the speed of transaction verifications rises, but it remains entirely undetected. It’s big and has a lot of uses, and it’s one of the big players. 

Also Read : Elon Musk Reaffirms Support For Bitcoin in the B-word Event, Markets Sentiments Turned Bullish!

HBAR Price Analysis

Although the HBAR price is currently bearish, the cryptocurrency price began surging at the start of 2021, and the positive trend lasted until mid-March when it reached an all-time high of $0.45. The currency failed to break through the all-time high price in April before entering a bearish trend that has lasted till today even though the asset was seen trading in the green zone in the past week.

Hbar closed the day at $0.17. Hbar is currently trading at $0.16, after a bearish start to the day. In the previous 24 hours, the price of HBAR has risen 2.51%. Currently, Hbar must avoid the key initial support level of $0.15, which is followed by $0.14 and $0.13. The biggest resistance level on the upside is $0.20, followed by $0.25. As long as it retains a critical support level, HBAR will resume its bullish trend. 

Since its ATH, the lowest price was $ 0.139984. (cycle low). Since the last cycle low, the highest HBAR price was $ 0.212739. (cycle high).

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Review

Polkadot Will Compete with Ethereum to Reach a Price of $100, Expects Industry Veteran

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Crypto-fintech expert and industry veteran Keith Bliss, the president of fintech solutions provider company Capital2Market, believes that Polkadot, the ninth-largest cryptocurrency in the market, may witness significant growth in the next three years

Keith Bliss: A Veteran in the Industry

Keith has remained associated with the fintech industry since the late nineties. At the beginning of his career, he sold time-order-management systems. The large buy-side asset managers were Bliss’s clients. Gradually he moved on to the dealings of electronic trading systems. These systems created a link between the institutional buy-side players and the sell-side players, facilitating seamless equity transactions for Wall Street. 

Bliss has been a witness to the fintech industry’s gradual growth. His experience in the industry makes him optimistic about the evolution of cryptocurrencies and the process of asset tokenization. But his reasons to believe in Polkadot’s potential growth story go far beyond the general hopefulness around the crypto industry.

The Factors Driving Polkadot’s Growth

Keith believes that Polkadot will grow in the imminent future as a competitor to Ethereum. To back his claim, Bliss cites the growing inclination among developers to turn to Polkadot as a foundation for building their platform. But why is it so? 

As we know, Ethereum, unlike Bitcoin, is seen more as an enabler of application development than as a store of value. Its smart contracts and other technological benefits have immensely helped DeFi to grow in applicability and usage. Yet, when developers develop something on Ethereum, the additions get coded right onto its blockchain. With a growing number of applications, these coded additions stunt the transaction speed of Ethereum and take a toll on its scalability. 

Polkadot solves this problem through its bridges. Polkadot can connect with other blockchains through bridges. Such a bridging system allows developers to work with their applications without building right into Polkadot’s main blockchain. Resultantly, Polkadot retains its scalability. However, Bliss does not believe that these advantages would make Polkadot replace Ethereum, as Ethereum already has a much higher adoption rate and is working on future upgrades. But, Polkadot will emerge as one of the strongest competitors of Ethereum. 

Estimating the Future Price of Polkadot

On one hand, Polkadot is a new entrant in reputed exchanges like Coinbase. It also does not have products like Ethereum ETFs or ethereum futures. But, at the same time, it has parachains, independent blockchains that connect to and run off its network. These parachains can attract developers in bulk to turn towards Polkadot as their preferred DeFi application protocol. As the developer pool grows, the Polkadot ecosystem can continue to prove that it’s here for the long term.

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Review

Altcoins To Surge Nearly 80% To 150% In Upcoming Bull Run!

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The crypto space is experiencing a huge roller coaster ride nowadays and the previous day surge was the phenomenal one. Amid the B-Word Event, the Bitcoin price gained a notable push and the other altcoins also ranged above the levels. Currently, the Ethereum price is all set to propel high with notable gains. However, the second half of 2021 is expected to be more fruitful.

It is a known fact that the crypto market flows with the BTC price and hence a substantial jump could ignite the altcoin market. Currently, the price is attempting hard to break the immediate lower high above $33,000. And later the rally above $35,000 seems to be imminent which could ignite the price to head towards $40,000. The price needs to sustain above these levels and this is when the altcoins could rise more than 80%.

The bitcoin price received some bullish moves from the event. The price was pushed to $32,600 and before it could register new highs, a strong rejection wick hindered the uptrend. Currently, the price is trying to hold above $32,000 and in order to continue with a bullish momentum, the price is required to smash $33,000. 

btcchart

Despite a substantial push, the price still failed to smash the upper trend line and initiated a consolidation. The rectangle box signifies crucial ranges to hold on to in order to propel further. The altcoins like Ethereum(ETH), Cardano(ADA), Stellar(XLM), Polygon (MATIC), XRP, AAVE, etc and many more could record a series of double-digit gains in the coming days. 

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  • bitcoinBitcoin (BTC) $ 32,745.00
  • ethereumEthereum (ETH) $ 2,061.40
  • tetherTether (USDT) $ 1.00
  • binance-coinBinance Coin (BNB) $ 290.94
  • cardanoCardano (ADA) $ 1.17
  • xrpXRP (XRP) $ 0.596425
  • usd-coinUSD Coin (USDC) $ 1.00
  • dogecoinDogecoin (DOGE) $ 0.192266
  • polkadotPolkadot (DOT) $ 12.91
  • binance-usdBinance USD (BUSD) $ 1.00
  • uniswapUniswap (UNI) $ 17.73
  • bitcoin-cashBitcoin Cash (BCH) $ 444.10
  • litecoinLitecoin (LTC) $ 121.06
  • solanaSolana (SOL) $ 27.37
  • chainlinkChainlink (LINK) $ 15.86
  • wrapped-bitcoinWrapped Bitcoin (WBTC) $ 32,733.00
  • stellarStellar (XLM) $ 0.261131
  • matic-networkPolygon (MATIC) $ 0.903287
  • ethereum-classicEthereum Classic (ETC) $ 44.71
  • daiDai (DAI) $ 1.00
  • compound-usd-coincUSDC (CUSDC) $ 0.022115
  • theta-tokenTheta Network (THETA) $ 4.77
  • internet-computerInternet Computer (ICP) $ 33.27
  • vechainVeChain (VET) $ 0.067107
  • filecoinFilecoin (FIL) $ 45.89
  • cdaicDAI (CDAI) $ 0.021685
  • tronTRON (TRX) $ 0.055161
  • aaveAave (AAVE) $ 281.12
  • moneroMonero (XMR) $ 199.58
  • okbOKB (OKB) $ 12.89
  • eosEOS (EOS) $ 3.54
  • terra-lunaTerra (LUNA) $ 7.63
  • shiba-inuShiba Inu (SHIB) $ 0.000006
  • cosmosCosmos (ATOM) $ 11.27
  • ftx-tokenFTX Token (FTT) $ 28.83
  • compound-ethercETH (CETH) $ 41.29
  • crypto-com-chainCrypto.com Coin (CRO) $ 0.111409
  • pancakeswap-tokenPancakeSwap (CAKE) $ 13.32
  • leo-tokenLEO Token (LEO) $ 2.78
  • amp-tokenAmp (AMP) $ 0.051669
  • algorandAlgorand (ALGO) $ 0.792719
  • celsius-degree-tokenCelsius Network (CEL) $ 5.85
  • klay-tokenKlaytn (KLAY) $ 0.960318
  • bitcoin-svBitcoin SV (BSV) $ 124.10
  • makerMaker (MKR) $ 2,452.88
  • tezosTezos (XTZ) $ 2.63
  • compound-governance-tokenCompound (COMP) $ 404.24
  • axie-infinityAxie Infinity (AXS) $ 38.03
  • terrausdTerraUSD (UST) $ 1.00
  • neoNEO (NEO) $ 28.80
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