In a surprising turn of events, Ethereum co-founder Vitalik Buterin made a notable transaction by selling 500 MKR tokens, valued at approximately $581,000, for 350 ETH through CoWSwap, the Data Nerd reported. He then subsequently transferred the received 350 ETH to address 0x3f6. This transaction marks the first time Buterin has sold MKR tokens in two years, raising eyebrows in the crypto community.

The state difference of the transaction, measuring 353.402301773795924061, adds to the intrigue surrounding this rare move by Buterin. This development comes on the heels of a significant boost in the trading price of MKR tokens observed a couple of days back, indicating possible whale activities. Market analysts suggest that substantial investments by prominent investors may have played a role in keeping the MKR price above the 20-day EMA.

MakerDAO’s fundamentals have been improving recently. The platform has returned to profitability following a period of increased spending on incentives, as noted by Kunal Goel, a senior research analyst at Messari.

However, a pivotal factor behind the surging price of MKR tokens appears to be the MakerDAO community’s announcement on August 28 regarding the introduction of SubDAOs in South Korea. This approach attempts to unlock the full potential of DAOs and has sparked great interest and excitement in the cryptocurrency community.

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Will MKR Continue The Bulls?

Currently, the MKR token is trading at $1,143.16, experiencing a slight drop of nearly 2% in the last day. This decrease in value may be linked to the market-wide price correction as investors and enthusiasts speculate on the reasons behind Vitalik’s decision to part with MKR tokens after a two-year.

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