Vitalik Buterin sells his remaining MakerDAO tokens
Vitalik Buterin, the co-founder of Ethereum, has sold his remaining stake of MakerDAO tokens. He sold 500 MKR tokens and earned around $580,000. Buterin initially invested in MakerDAO in 2018, purchasing 1071 MKR tokens. This recent sale implies a gain of about 27%. Buterin’s action follows a blog post by MakerDAO’s co-founder and CEO, Rune Christensen, who detailed plans for a new iteration of the project on a different blockchain called NewChain.
Buterin’s sale and gain
- Vitalik Buterin sold his remaining 500 MKR tokens.
- The sale earned him approximately $580,000.
- Buterin initially invested in MakerDAO in 2018.
- His recent sale implies a gain of about 27%.
- He last interacted with his MKR tokens in April 2021 when he donated 100 tokens to India’s Covid relief fund.
MakerDAO’s plans for NewChain
- Rune Christensen, MakerDAO’s co-founder and CEO, detailed plans for a new iteration of the project on a different blockchain called NewChain.
- The proposed blockchain could potentially be a fork of Solana.
- Christensen chose Solana for its technical quality, ability to overcome hardships, and previous success stories of Solana forks.
- NewChain could serve as a secure conduit between Ethereum and Solana.
- Other alternatives for NewChain include Aptos, Sui, and Cosmos.
Hot Take
Vitalik Buterin’s sale of his MakerDAO tokens shows his confidence in the project’s future on a different blockchain. The plans for NewChain indicate a willingness to explore new technologies and enhance the ecosystem’s security and efficiency. It will be interesting to see how MakerDAO’s transition to NewChain unfolds and how it impacts the wider crypto community.
By
By
By
By