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The global crypto market cap is $1.05 trillion with a 24-hour volume of $21.62 billion. The price of Bitcoin is $25,960.06 and BTC market dominance is 48.3%. The price of Ethereum is $1,638.92 and ETH market dominance is 18.8%. The best performing cryptoasset sector is Education, which gained 13%.
Ethereum co-founder Vitalik Buterin sold all his MakerDAO’s MKR tokens in reponse to the news.
TechCrunch / CC BY-SA 2.0 / Flickr. Remixed by CryptoSlate
Solana’s (SOL) co-founder, Anatoly Yakovenko, has cautioned the blockchain community against harboring resentment towards Ethereum (ETH) following recent praise from MakerDAO’s (MKR) CEO, Rune Christensen.
In a recent blog post, Christensen unveiled the MakerDAO Endgame plan’s final phase, revealing a comprehensive reimagining of the DeFi protocol on a novel forked version of Solana, which will be named NewChain.
Christensen highlighted Solana’s technical prowess and optimization as factors that make it ideal for his platform’s blockchain network. Additionally, he noted that Solana has demonstrated impressive resilience despite the issues it faced due to FTX’s collapse, bolstering its position with a thriving developer community. This robust ecosystem reduces development and maintenance costs and guarantees a consistent pool of top-tier talent.
Christensen further hinted that NewChain could serve as a vital bridge connecting Ethereum and Solana. He wrote:
“Because we benefit from the core Solana ecosystem being resilient, it would be strategically beneficial to ensure there is a Two-Stage Gravity Bridge from NewChain to Solana alongside the bridge from NewChain to Ethereum.”
Following the revelation, some crypto community members interpreted Maker’s choice as a victory for Solana while simultaneously mocking Ethereum.
However, Yakovenko urged caution, saying Maker’s consideration was a win for open-source technology and had “nothing to do with Solana’s mainnet or sol vs. eth.” He added:
“Ethereum is awesome. Solana wasn’t built in a vacuum, and tons and tons of things that make Solana special were built based on Ethereum’s r&d.”
On the other hand, Ethereum co-founder Vitalik Buterin sold all his MKR tokens for 353 ETH, around $581,000, through CoW protocol DEX, according to Arkham Intelligence’s dashboard.
Many are pondering the underlying motive for the sale, with many speculating that this might be a retaliatory action. However, this seems unlikely, considering Buterin’s prior endorsements of the Solana network.
Nevertheless, the action has attracted attention from prominent figures in the crypto community, including Justin Sun, the founder of the Tron Network.
Oluwapelumi values Bitcoin’s potential. He imparts insights on a range of topics like DeFi, hacks, mining and culture, underlining transformative power.
Also known as “Akiba,” Liam is a reporter, editor and podcast producer at CryptoSlate. He believes that decentralized technology has the potential to make widespread positive change.
Disclaimer: Our writers’ opinions are solely their own and do not reflect the opinion of CryptoSlate. None of the information you read on CryptoSlate should be taken as investment advice, nor does CryptoSlate endorse any project that may be mentioned or linked to in this article. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own due diligence before taking any action related to content within this article. Finally, CryptoSlate takes no responsibility should you lose money trading cryptocurrencies.
Ethereum is a decentralized, open-source blockchain platform that enables the creation of smart contracts and decentralized applications (DApps).
Solana is a high-performance blockchain platform that utilizes a unique consensus algorithm called “Proof of History” to achieve fast transaction speeds and low fees.
Maker is a decentralized autonomous organization on the Ethereum blockchain seeking to minimize the price volatility of its own stable token — the Dai — against the IMF’s international currency basket SDR.
Rune Christensen is Chief Executive Officer and Cofounder of MakerDAO.
Anatoly Yakovenko is the innovative mind behind Solana, a high-performance cryptocurrency blockchain.
Vitalik Buterin is the creator of Ethereum, the community-run technology powering the cryptocurrency ether (ETH) and thousands of decentralized applications.
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Ripple’s legal team argued in the filing that the court should reject the SEC’s certification request as it does not meet the exceptional requirements needed to secure approval for an interlocutory appeal.
The survey was conducted in May 2023 and found that found that 52% of Turkish adults aged 18 to 60 have invested in cryptocurrencies, a 12% increase from 40% in November 2021.
While not the first time a Chinese court has questioned the prevailing policy of the CCP, any break with hierarchy within Chinese politics is unusual.
Armstrong’s farewell to BitBoy Crypto unveils personal struggles and reaffirms commitment to cryptocurrency community.
JP Morgan analysts predict the SEC will approve spot Bitcoin exchange-traded funds after losing its court case against Grayscale.
The former U.S. President declared he earned over $4 million from his NFT adventure.
The former FTX CEO’s lawyers argue that the government is overwhelming their client without allowing him the ability to adequately prepare his case.
The BNB Bridge hacker’s $63 million position was also liquidated on Venus Protocol.
Disclaimer: By using this website, you agree to our Terms and Conditions and Privacy Policy. CryptoSlate has no affiliation or relationship with any coin, business, project or event unless explicitly stated otherwise. CryptoSlate is only an informational website that provides news about coins, blockchain companies, blockchain products and blockchain events. None of the information you read on CryptoSlate should be taken as investment advice. Buying and trading cryptocurrencies should be considered a high-risk activity. Please do your own diligence before making any investment decisions. CryptoSlate is not accountable, directly or indirectly, for any damage or loss incurred, alleged or otherwise, in connection to the use or reliance of any content you read on the site.
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