Vitalik Buterin sells his MakerDAO shares

MakerDAO founder announces plans with Newchain for a new blockchain based on Solana's codebase. As a result, Buterin sells his tokens.

Vitalik Buterin has sold his MKR tokens. Records from Arkham Intelligence show that the Ethereum founder sold 500 MKR worth $581,000 on Sept. 2.

The sale came shortly after Rune Christensen announced plans for a new blockchain for the MakerDAO ecosystem.

MakerDAO is the organization behind the largest algorithmic stablecoin DAI. MKR token helps to peg the price to the U.S. dollar and acts as a governance token in DAO.

Through Newchain, the Maker ecosystem is expected to become more secure and efficient. "After doing some research, I believe that the Solana codebase should be considered as the foundation for NewChain," he said. laid Maker founder Christensen out.

Newchain's final development time is estimated at three years.

Meanwhile speculates the crypto community on X about Buterin's motives. Buterin has not yet commented on the token transfer.