MakerDAO’s $MKR Faces Decline As Whales Make Moves

MakerDAO’s native token $MKR has experienced a 4% decline in the past 24 hours and a 6% drop over the course of the last 7 days, signaling a challenging period for the cryptocurrency.

Recent on-chain reports reveal that MakerDAO Multisign 0xbba has deposited 421.985 MKR, equivalent to $1.29 million, to Wintermute Trading OTC at a price of $3,046 before the price downturn.

This deposit adds to the multisign’s overall activity, which has seen 9,043 MKR deposited to Wintermute Trading OTC at an average price of $3,291, totaling $29.76 million, since the price surge on March 17, 2024. 

Multisign 0xbba, likely @MakerDAO, has consistently moved $MKR out before price drops!

In the past 2 weeks, the multisign sent 4,535 $MKR ($14.4M) in total almost daily to #Wintermute Trading, which then deposited to CEX like #Binance, #Coinbase, or #Kraken,

And the price… https://t.co/cZanltuTnA pic.twitter.com/ZK9uyzXO0G

— Spot On Chain (@spotonchain) April 22, 2024

Notably, the price has tended to slightly decrease following each deposit. Currently, the multisign still holds 21,928 MKR, valued at $66.36 million.

In addition to multisign activity, a whale profiting $3.51 million through $MKR transactions sold 1,500 MKR on the chain in the past two hours at an average price of $3,045.

Subsequently, the whale recharged 4.48 million USDT into Binance, possibly in anticipation of purchasing at the market’s bottom.

2024.03 通过 $MKR 波段获利 351 万美金的巨鲸，过去两小时在链上卖出 1500 枚 MKR，卖出均价 $3045；随后将 448 万枚 USDT 充值进币安，或许是去抄底了？

这部分 MKR 是 04.11 以均价 $3325 从币安转出的，此次卖出亏损了 42 万美金，剩余部分仍浮亏 14 万美金