After a frenzied rally, the “animal coins” represented by SHIB received a head-on blow when V-God, who owns more than 50% of SHIB’s total tokens, conducted a massive token sell-off and transfer in the early hours of May 13, triggering a short-lived 40% plunge in SHIB.
While Tesla CEO Musk’s tweet about “shorting” bitcoin triggered a market crash that all but dominated the industry’s attention, we need to take a look at the SHIB sell-off and transfer as well as V God’s operations and motivations on this miserable evening.
What was the total amount of tokens sold and donated by V God, why did V God sell these “animal coins”, and what coins are still in V God’s wallet?
This article will attempt to answer these questions.
I. Event Review
On May 12, V God’s certified wallet address withdrew the liquidity of SHIB/WETH from Uniswap and started selling off a large amount of SHIB tokens. As a result, SHIB plunged 40% in a short period of time, and the market value of SHIB has dropped 60% compared to the highest point of calculation.
At this point one wonders, “Did V-God even add liquidity manually?”
A query reveals that the day before the SHIB project owner sent tokens to V God’s wallet, which was July 31, 2020, they had already sent LP tokens for the SHIB/WETH trading pair to V God.
Subsequently, Whale Alert issued an alert showing that V God, the founder of Ether, donated 50 trillion SHIBs (about $1.2 billion at the time) from his public address to the “New Indian Coronavirus Relief Fund” launched by Polygon founder Sandeep Nailwal in late April Address.
In response to V God’s huge donation, Polygon founder Sandeep Nailwal tweeted to thank V God for his donation, saying that he would not do anything to hurt the community, especially the SHIB community, which is closely related to this incident, and asked SHIB holders to rest assured.
In addition to SHIB, V-God has also made token transfers to a number of charitable or non-profit organizations at the same time.
For example, V-God sent approximately $431 million in AKITA tokens to the address of Gitcoin, an ethereum-based public fundraising platform; donated approximately $210,000 worth of ELON tokens and 1,000 ethereum to the Methuselah Foundation Wallet, a medical charity dedicated to extending human life; donated 1,050 ethereum to Machine Intelligence Research Institute, a research institute focused on ensuring that AI has a positive impact; and donated 1,050 ethereum to Give, another charity. Machine Intelligence Research Institute, a research institute focused on ensuring the positive impact of AI, was given 1,050 Ether; and $53 million worth of Ether was donated to GiveWell, another charity.
According to the statistics, V God donated a total of about $1.5 billion worth of tokens this time.
Second, what other coins are in V God’s address?
When we open the certified wallet where V God made the donation from the block browser, we find that there are only 10.881 Ether left in it. tokenview data shows that V God transferred nearly 330,000 Ether in one day yesterday.
It is worth noting that the wallet holds over 1,000 tokens. Among them, SHIB still accounts for the majority, up to 95.77%, with a current value of about $7.77 billion. In addition to the recent tokens made known by dogcoin fans due to the craze, the rest are basically unnamed “dirt dog” coins.
In addition to the address where V God made the donation, through the records on the chain we also found the address of another certified wallet of V God (0x1db3439a222c519ab44bb1144fc28167b4fa6ee6) and the address where V God received the nearly 330,000 Ether he transferred ( 0x220866b1a2219f40e72f5c628b65d54268ca3a9d).
In fact, there are many other well-known addresses in the cryptocurrency space that are often spied on by the public and seen as “signals” for investment. For example, the address used by Satoshi Nakamoto in the early days of bitcoin transfer would cause extreme panic in the market; YFI founder Andre Cronje’s ethereum address would be rapidly bought by a large number of speculators once a smart contract with tokens was deployed; or DeFi giant whale 0xb1’s address would be seen as a signal for some kind of investment or speculation when it comes to daily financial operations, and these addresses somehow satisfy everyone’s prying eyes.
Why are there so many torrents in V-God’s wallet address?
Through the hype of “crypto-animal fan coins” driven by dog coins, we can easily guess that most of the tokens were sent to V God’s address by the project owner to gain momentary popularity.
Moreover, we have good reason to believe that SHIB, which soared 400,000 times in half a year, is one of them, because initially SHIB did not have any value to support.
For V God’s “trashing”, SHIB’s official announcement to the community to stabilize the army, said V God’s donation makes SHIB’s significance more than just a mere minky token, SHIB even has a far-reaching meaning for humanity.
From the fact that V God transferred nearly 330,000 Ether to his new wallet, he probably doesn’t want his Ether to be “mixed up” with these fanfic tokens.
As a retailer, we don’t approve of the project’s tokens hitting well-known addresses to gain popularity.
However, we can’t say who will be the next SHIB to be pushed into the limelight. At that time, it will have value.
Fourth, why is V God selling a lot?
In terms of market sentiment and market dynamics, V God’s action is like a pot of cold water, completely extinguished the recent fanatical fever.
However, it is believed that many insiders are happy to see such an operation. In their eyes, the crypto field has long since ceased to be a game of drumming and Ponzi schemes.
In the thriving crypto ecology, there are not only open finance and crypto art, but also many new ideas that have not been realized by traditional industries, and never just hype.
Yesterday, for example, Stani Kulechov, founder of the DeFi lending protocol Aave, announced that he will create a “private lending pool” specifically for traditional financial institutions to help them better understand open finance.
There are countless examples like this. But the latest “animal coin” has completely stolen the spotlight.
The epidemic in India is becoming more and more serious, with hundreds of thousands of people diagnosed every day, and the world is worried that this is not a country’s problem, but a global disaster that needs attention.
Some people say that V God has chosen to find the best answer to the problem by killing two birds with one stone; some say that V God is using it as a charity to “disperse” the “ill-gotten gains” he has made; some say that the genius of V God has expressed his concern for the “Animal City” through this way. Some people say that the genius V God expressed his dissatisfaction with “Animal City” in this way.
But right or wrong, the ultimate injury is always the retailer.
Posted by:CoinYuppie，Reprinted with attribution to:https://coinyuppie.com/after-shib-was-dumped-we-studied-v-gods-wallet/
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