Get Ready, Vitalik Buterin Sells 500 MKR Tokens Worth IDR 8.8 Billion!

Illustration of MKR Token. (Photo; Doc. Cryptoborsa)

Shocking news came from Ethereum co-founder Vitalik Buterin, who had made a transaction selling 500 MKR tokens worth around 581,000 US dollars (Rp8.8 billion). This transaction was carried out via CoWSwap, and furthermore, he transferred 350 ETH received to address 0x3f6.

It also marks the first time in two years Vitalik has sold MKR tokens, sparking many questions in the crypto community. What's interesting about this transaction is the specific difference in number, namely 353,402301773795924061 ETH, which adds to the mystery surrounding Vitalik Buterin's actions.

This event came after a significant increase in the trading price of the MKR token a few days ago, indicating the activity of the largest crypto-owner entity or commonly known as whales. Several market analysts argue that large investments by leading investors may have played a role in keeping the MKR price above the 20-day EMA.

MakerDAO, which is the basis of the MKR token, has shown improvements in its fundamentals. The platform has again recorded profitability after experiencing a period of increased spending on incentives, as revealed by Kunal Goel, a senior research analyst at Messari.

However, one of the main factors behind the MKR price spike appears to be linked to the announcement from the MakerDAO community on August 28 regarding the introduction of SubDAO in South Korea. The approach aims to explore the full potential of the DAO (Decentralized Autonomous Organization) concept and has attracted great interest and enthusiasm in the cryptocurrency community.

Currently, MKR tokens are trading at a price of IDR 17,186,782 according to Coingecko data. MKR prices have decreased by about 2% in the last 24 hours. This decline may be partly related to price corrections that have occurred across the market, while investors and fans are trying to understand the reasons behind Vitalik's decision to sell MKR tokens after two years.