Venture Capital Firm a16z Unloads $7M of MKR Tokens as Price Soars

The transactions happened as MKR surged Friday to a near-one year high above $1,200 following the activation of a new token buyback scheme that is removing coins from the market, reducing their supply. The token pared some of its gains, sinking to as low as $1,040 on Monday, and has risen 10% since to its current $1,140.

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