Less than two days after earlier reports of ContitutionDAO’s PEOPLE token hitting an all-time high of $0.02, it has now hit a new ATH of $0.16.
History of the ConstitutionDAO
ConstitutionDAO was established on November 11, when a group of crypto enthusiasts met on Zoom with the common goal of raising funds to secure the purchase of a rare copy of the US constitution to be sold. at Sotheby’s auction on November 19.
As predicted by the auction, the DAO raised more than $45 million in ETH from over 17,000 donors, but in the long-term, cannot secure a copy of the constitution after its defeat to CEO Ken Griffin of the anti-crypto company in the auction.
Despite having enough money to secure the constitution, calculated conjecture by some analysts, the DAO was unable to do so due to the fact that it paid out nearly a million dollars in contributors’ money. gasoline and even some other to transport the constitution.
PEOPLE token is on the rise
Meanwhile a few days after losing the auction, DAO has announced that they will be closing the store and said that all sponsors can claim their Ethereum money back in exchange for HUMAN tokens. PEOPLE that they get when they contribute. And according to Coinmarketcap data, PEOPLE was worth about $0.004, at the time of closing.
Data from Dune Analytics also indicates that nearly 55.28% of PEOPLE’s total 4,565,078,206 tokens were returned at the time of her posting. But there is a step back.
The refund did not go as smoothly as planned. Just like how users incur high gas fees to donate their Ethereum to the pool, now they are facing the same situation when it comes to getting a refund.
Now, despite the fact that ConstitutionDAO may have really fallen short after fundraising, it’s clear that the value of HUMANS continues to grow. Just yesterday, even OKEx – the crypto exchange, announced that they will now list tokens, which have become community owned tokens.