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- Vitalik Buterin made a significant transaction by selling approximately 500 MKR tokens worth about $581,000 for 350 ETH through CoWSwap.
- This development came after a significant increase in the buying and selling price of MKR tokens a few days ago, indicating possible whale activities.
- The determining factor behind the rising price of MKR tokens seems to be the MakerDAO community’s announcement regarding the introduction of SubDAOs in South Korea on August 28.
According to recent reports, Vitalik Buterin, the founder of Ethereum, made an unexpected sale of MakerDAO (MKR) assets.
Vitalik Buterin Sells MKR Assets
According to the information received, surprisingly, Vitalik Buterin, the co-founder of Ethereum, made a significant transaction by selling approximately 500 MKR tokens worth about $581,000 for 350 ETH through CoWSwap. He then transferred the received 350 ETH to the following address: 0x3f6. This transaction indicates Buterin’s first sale of MKR tokens in two years and has raised suspicions in the crypto community.
The difference in the amount of 353.402301773795924061 in the transaction contributes to the intrigue surrounding this rare move by Buterin. This development came after a significant increase in the buying and selling price of MKR tokens a few days ago, indicating possible whale activities.
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Market analysts suggest that significant investments by leading investors may have played a role in keeping the MKR price above the 20-day EMA.
MakerDAO’s Notable Recovery
MakerDAO’s fundamentals have recently shown improvement. As noted by Kunal Goel from Messari, the platform has returned to profitability after a period of increased spending on incentives.
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However, the determining factor behind the rising price of MKR tokens seems to be the MakerDAO community’s announcement regarding the introduction of SubDAOs in South Korea on August 28. This approach aims to unlock the full potential of DAOs and has generated significant interest and excitement in the crypto community.
Currently, the MKR token is trading at $1,144 and has experienced a 4% increase in the last 24 hours.
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