A Vitalik Buterin-owned address has sold 500 MKR for 350 ETH (worth approximately 580 thousand USD) via CoWswap, according to blockchain intelligence platform Arkham Intelligence.
This marks the first time in two years that this address has sold such tokens.
After the sale, the address then transferred the 350 ETH to another address, 0x3F...2aEB.
At present, this address boasts assets worth $1.09 million, which includes 415.76 ETH.
What are MKR Tokens?
Maker (MKR) is the governance token for both MakerDAO and the Maker Protocol, two entities built on the Ethereum blockchain.
These platforms enable users to create and manage the DAI stablecoin.
Maker stands as one of the earliest projects in the decentralized finance (DeFi) sphere.
Can We Expect Vitalik to Sell More?
This development follows Vitalik Buterin's recent move of 600 ETH to Coinbase, a move often interpreted as a sign of selling.
#PeckShieldAlert vitalik.eth has transferred 600 $ETH (~$1M) to #Coinbasepic.twitter.com/XVTwLqPENM
— PeckShieldAlert (@PeckShieldAlert) August 21, 2023
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Initially, these funds were directed to a multichain address before ultimately reaching an address marked by Etherscan as belonging to Coinbase.
Vitalik has openly acknowledged selling his ETH holdings in the past, including various memecoins received as donations without solicitation.