Vitalik anticipates something

READING TIME: 4 mins 43 secs

Good Morning!

New week marks a new beginning of an exciting adventure. Fingers crossed for your bold crypto moves ๐Ÿคž

Here's what we got for you today:

๐ŸŒ€ Vitalik sells MKR tokens for the first time in 2 years

๐ŸŒŠ MakerDAO's NewChain proposes shift to Solana

๐Ÿš€ CZ: DeFi can surpass CeFi in the next bull run

Vitalik Buterin has made a notable transaction by selling his MKR tokens for the first time in two years.

The sale involved 500 MKR tokens, worth about $581,000, through CoWSwap. The specific details of this transaction have sparked discussions about Buterin's intentions. This move coincides with an increase in MKR token trading prices, potentially influenced by significant investments from major players. Additionally, MakerDAO announced the creation of SubDAOs in South Korea and plans to introduce its native blockchain called "NewChain", signaling a possible departure from Ethereum.

The ongoing lawsuit between Ripple and the SEC revolves around the classification of XRP as a security.

Ripple has recently opposed the SEC's motion to certify an interlocutory appeal, highlighting specific requirements they believe the SEC failed to meet. A pro-XRP lawyer, John Deaton, representing XRP tokenholders, provides insights on possible settlement scenarios, emphasizing the influence of the ongoing Coinbase vs. SEC lawsuit. The legal outcome could have significant implications for the broader cryptocurrency industry, potentially setting regulatory precedents. In the meantime, XRP's price has shown slight positive movements, though it remains volatile.

MakerDAO co-founder has proposed using a fork of Solana's codebase for the upcoming "NewChain" instead of its traditional Ethereum ties.

This move has stirred debates in the cryptocurrency community about potential shifts in the DeFi sector. Simultaneously, there's speculation about FTX, a collapsed cryptocurrency exchange with strong Solana ties, considering the sale of its significant Solana holdings. Anatoly Yakovenko, Solana's co-founder, suggests distributing the SOL tokens directly to affected FTX customers.

Binance CEO Changpeng โ€œCZโ€ Zhao predicts that DeFi could overtake centralized finance (CeFi) in the next bull run.

During a CZ AMA session, he stated that DeFi's trading volume is currently 5-10% of CeFi's but emphasized its growth potential. This follows a surge in decentralized exchange (DEX) trading volumes after legal actions against centralized exchanges, with DEX trading volume now at $722,776,226. Meanwhile, a U.S. federal court dismissed a lawsuit against Uniswap due to regulatory uncertainties. CoinGecko reported a 190% rise in DeFi investments to $2.7 billion in 2022, while CeFi investments dropped by 73%.


source: Reddit/Cryptocurrency Memes

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