Vitalik Buterin sells MKR tokens as MakerDAO weighs move to Solana – DiarioBitcoin
By Hannah Perez The Ethereum co-founder sold his remaining stack of 500 MKR tokens for $580,000 shortly after MakerDAO’s plans to migrate its new chain to Solana were revealed.
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- Buterin sold his remaining stash of MKR tokens for $580,000
- Ethereum Co-Founder Not Happy With MakerDAO’s New Plans?
- MakerDAO co-founder suggested basing new platform on Solana, instead of Ethereum
- Buterin has been making suspicious moves
Vitalik Buterin, the brilliant mind behind Ethereumhas decided to abandon its position in MakerDAO.
According to on-chain data, Buterin sold 500 tokens MRK, the native currency of MakerDAO, on Saturday for about USD $580,000. The on-chain analytics platform Lookonchain was one of the first to spot the transaction on September 2, noting that Buterin held the MKR tokens for more than two years.
After 2 years of dormancy, @VitalikButerin sold all remaining 500 $MKR for 353 $ETH ($580K) 6 hrs ago.https://t.co/S6EC2lwxLq pic.twitter.com/tj8baxcJgO
— Lookonchain (@lookonchain) September 2, 2023
The co-founder of Ethereum sold the funds through the protocol COWas shown by on-chain data, while the analytics platform Blockchain, Arkham Intelligence, confirms that the sale was likely the last of Buterin’s known MKR holdings. Your wallet for that token is currently displayed at zero.
It is worth noting that Buterin continues to be a huge cryptocurrency holder, with a current fortune of more than $405 million in digital assets, much of which is in ETH, the native currency of Ethereum.
MakerDAO moves towards Solarium
The developer’s sales coincided with the plans of MakerDAO to move towards Solarium.
On Friday, the protocol’s co-founder, Rune Christensen, He suggested that Solarium “should be considered as the foundation of NewChain“, a native blockchain for maker which would be the final phase of a more ambitious update plan called “Endgame“.
When describing The main reasons, Christensen explained that it is due to the technical quality of the blockchain, as well as its resilience after the explosion of FTXalready proven examples of the fork of the code base of Solarium for other successful projects. However, the plans generated great controversy in the community.
MakerDAOone of the most prominent players in the decentralized finance (DeFi) space and the issuer of the stablecoin DAI has been committed since its inception to Ethereum. But if Christensen’s vision comes to fruition, it means the protocol will abandon what has until now been his home and move to the rival blockchain.
The co-founder of Ethereum appeared to address the issue in a message on the Discord from the platform Reflex Financerival of MakerDAOwhere he encouraged the community to expand their collateral options to liquidity betting derivatives in Ethereum.
“If MakerDAO is torpedoing itself in strange directions“, so Reflecter can be improved by providing more collateral options such as MakerDAOButerin commented.
Suspicious movements of Buterin
Some in the community were quick to speculate that the sale of tokens MRK on Buterin’s part would have been motivated by the plans of maker to enter a new ecosystem Blockchain.
However, it should be noted that the movement does not come in isolation. The co-founder of Ethereum has been making some surprising moves in recent weeks. 15 days ago, she deposited a total of 600 ETH worth just over USD$1 million to the cryptocurrency exchange Coinbase.
According to chain researchers PeckShield, one of its related addresses also recently withdrew 900 ETH for USD $1.64 million. A few weeks earlier, the address had received 1,701 ETH or about $2.7 million, which was then deposited on the exchange Bitstamp. It is estimated that shipments of tokens to the exchanges They are made with the intention of sale.
The reasons for the movements and whether Buterin is indeed trying to liquidate part of his fortune in cryptocurrencies are unknown. With crypto market prices primarily depressed, it does not seem to be the best time to make sales. ETH is trading at USD $1,630 at press time, with a loss of 11% in the last 30 days.
Article by Hannah Estefanía Pérez / DailyBitcoin
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