Vitalik Buterin donated 274.1 ETH (about $500K), to Zuitzerland project.
Ethereum co-creator Vitalik Buterin sent 274.1 worth about $500,000 in Ethereum to a contract launched by Web3 researcher @0xisla. The process will be used to fund or cover development on the Zuitzerland project that has been developed from Buterin’s prior Zuzalu experiment. The process signifies Buterin’s interest in encouraging new and innovative projects in Ethereum’s space.
Zuitzerland has been described as a “network state sandbox,” and derived from Buterin’s Zuzalu to form temporary pop-up societies to work and serve makers and thinkers. Zuitzerland will be hosting residencies, hackathons, and city events that will unite humans to co-create on Web3 and decentralized applications and projects.
Zuitzerland offers a platform to test new models of governance, decentralized innovation and tech, and community innovation to be developed by Ethereum through broadening blockchain tech horizons. Buterin’s 274.1 ETH grant indicates his faith in the potential posed by Zuitzerland in stirring growth in spaces outside mainstream blockchain growth and includes decentralized identity and privacy protocols that form part of Ethereum’s long-term vision.
On the market side, this donation comes at a time when Ethereum is navigating cautious sentiment. At the time of the transfer, ETH was trading around $1,843, testing the lower Bollinger Band support at $1,778, as noted in a Bitcoin Ethereum News report. With ETH’s RSI nearing oversold levels at 37, the market reflects uncertainty, yet Buterin’s $500,000 donation underscores his optimism about Ethereum’s future.
This follows his recent donations worth over $1 million to initiatives such as Railgun, with a stronger commitment to experimental and private-centric projects. Zuitzerland’s investment will promote faster development with the possibility to enable the usability and adoption of ETH with the growth of more projects upon its network. The endorsement from Buterin secures Ethereum at the forefront of Web3 development.
