NounsDAO’s Fork Sparks $27 Million ETH Withdrawal Surge
NounsDAO executed a highly anticipated fork that would change the course of its community. The outcome was striking, with more than half of Nouns NFT holders choosing to part ways, resulting in a staggering withdrawal of over $27 million worth of ETH. The fork witnessed the active participation of 472 out of 846 Noun NFT owners, approximately 56% of the total, making a decisive move to withdraw nearly 16,757 ETH from the existing DAO Noun pool to the newly established DAO entity. This substantial sum equates to a value of 27.3 million USD.
Analyzing the data further, it’s evident that the Noun NFT market has experienced a significant decline. The floor price for these sought-after digital assets, which peaked at a staggering $267,000 in December 2021, has now plummeted to approximately $57,700. This decline in value underscores the growing discontent within the Noun NFT community and provides additional context to the massive withdrawal. The NounsDAO fork has thus become a focal point in the evolving landscape of NFTs and decentralized governance. The departure of over half of its NFT holders, along with the substantial ETH withdrawal, raises questions about the future direction of the project and the challenges it faces in rebuilding trust and value within its community.
Source
Join @Crypto_Publisher
Contact us @Crypto_Marcus
