ConstitutionDAO PEOPLE Token Continue To Rise Amid DAO Closure
Less than two days after the earlier reports of ContitutionDAO’s PEOPLE token hitting an all-time high of $0.02, it has now reached a new ATH of $0.16.
Brief History of ConstitutionDAO
ConstitutionDAO was formed on November 11, when a group of crypto enthusiasts met on Zoom with a common goal of raising funds in order to secure the purchase of a rare copy of the US constitution that was to be sold at Sotheby’s auction on November 19.
In anticipation of the auction, the DAO raised more than $45 million in ETH from over 17,000 donors, but in the long run, could not secure the constitution copy after losing out to anti-crypto Citadel CEO Ken Griffin during the auction.
Despite having enough funds to secure the constitution, according to the calculated guesses of several analysts, the DAO was unable to do so for the fact that they’d have paid nearly a million dollars of contributor money, in gas fees, and even some more for transporting the constitution.
PEOPLE Token On The Rise
Meanwhile few days after losing out at the auction, the DAO announced it was closing up shop and said that all donors could claim their Ethereum refunds in exchange for the PEOPLE tokens they got when they contributed. And according to Coinmarketcap data, PEOPLE was worth about $0.004, at the time of closure.
Data from Dune Analytics also indicates that nearly 55.28% of the total supply of 4,565,078,206 PEOPLE tokens has already been returned as of the time of putting to get her this post. But there’s a setback.
Refunds aren’t exactly going as smoothly as planned. Just in the same way users had to suffer high gas fees to donate their Ethereum to the pool, they’re now facing a similar situation in receiving the refund.
Now, despite the fact that ConstitutionDAO may have truly come short of expectations after the fundraising, but it’s obvious that the value of PEOPLE continues rising. Just yesterday alone, even OKEx — the crypto exchange, announced that it is will now be listing the token, having become a community-owned token.
- Is This Final Bitcoin Price Correction Before US Shutdown Ends, Fed Rate Cuts?
- Blockchain for Good Alliance and UNDP AltFinLab Launch Blockchain Impact Forum
- ‘Trump Insider Whale’ Increases Bitcoin Short As U.S. Counters China in New Australia Deal
- Trump Advisor Hints US Government Shutdown Could End This Week, Opening Door for XRP ETF Ruling
- Ethereum’s Vitalik Buterin Responds to Allegations of Excessive Control By ETH Inner Circle
- Ethereum Price Targets $8K Amid John Bollinger’s ‘W’ Bottom Signal and VanEck Staked ETF Filing
- Pi Coin Price Eyes 50% Upswing As AI-Powered App Studio Update Ignites Optimism
- Bitcoin Price Prediction as Gaussian Channel Turns Green Amid U.S.–China Trade Progress and Fed Rate Cut Hopes
- Solana Price Prediction: Analyst Notes Bearish Breakdown Amid Derivatives Slowdown
- Shiba Inu Price Eyes Recovery as Burn Rate Jumps 10,785% – Can SHIB Hit $0.000016?
- Ethereum (ETH) Price Prediction: Analyst Eyes $7,000 by Q4 as Bitmine Accumulates $281M ETH — Will History Repeat Itself?
Why Trust CoinGape
CoinGape has covered the cryptocurrency industry since 2017, aiming to provide informative insights Read more…to our readers. Our journal analysts bring years of experience in market analysis and blockchain technology to ensure factual accuracy and balanced reporting. By following our Editorial Policy, our writers verify every source, fact-check each story, rely on reputable sources, and attribute quotes and media correctly. We also follow a rigorous Review Methodology when evaluating exchanges and tools. From emerging blockchain projects and coin launches to industry events and technical developments, we cover all facets of the digital asset space with unwavering commitment to timely, relevant information.
