An altcoin whale made a million-dollar transaction in a cryptocurrency project that many people have forgotten.
According to the post made by the blockchain analysis platform called Lookonchain, a newly opened wallet 30 minutes ago withdrew 9 million PEOPLE tokens (worth approximately $ 1 million) from the OKX exchange.
Following this major transaction, the price of the PEOPLE token dropped by 13% in the last 24 hours, according to TradingView data.
ConstitutionDAO and PEOPLE Token
PEOPLE token became known with the ConstitutionDAO project, which made a big impact three years ago.
ConstitutionDAO to participate in an auction at Sotheby’s to purchase a rare copy of the US Constitution. raised approximately $48.9 million. However, they lost the auction to hedge fund billionaire Kenneth Griffin.
After the project failed to obtain a copy of the US Constitution, which was its main goal, it was announced that ConstitutionDAO’s operations would be terminated.
Graham Novak, one of the organizers of ConstitutionDAO, stated in the project’s Discord channel that the community achieved its goals. The group has committed to returning donors their investments, but some members have expressed concerns about how much will be refunded.
The termination of the ConstitutionDAO project and the return of donations caused fluctuations in the PEOPLE token.