MKR: Will whales ‘Make’ it out of the bear market?
The post MKR: Will whales ‘Make’ it out of the bear market? appeared on BitcoinEthereumNews.com. Despite a bearish crypto market, whales were accumulating MKR. MakerDAO explored integration with zkSync to expand its ecosystem and increase demand for sDAI. Despite the bearish sentiment prevailing in the cryptocurrency market, MakerDAO [MKR] was an outlier, showing signs of growth. This growth was particularly evident in the rising interest of whales in the MKR token. Is your portfolio green? Check out the MKR Profit Calculator Whales move in Whale accumulation has been noticeable, with several substantial transactions recorded recently. For example, one whale withdrew 869 MKR (equivalent to approximately $1.27 million) from Binance [BNB] and held a total of 3,549 MKR (valued at about $5.17 million). Another wallet withdrew 1,001 MKR (approximately $1.46 million) from Binance as well. 3 whales are accumulating $MKR! 0x9e withdrew 869 $MKR ($1.27M) from #Binance 19 hrs ago and holds 3,549 $MKR ($5.17M). Fresh wallet”0x6b” withdrew 1,001 $MKR ($1.46M) from #Binance 20 hrs ago. 0xB4 withdrew 300 $MKR ($437K) from #OKX 11 hrs ago and holds 800 $MKR ($1.17M). pic.twitter.com/bHYDFAoEr4 — Lookonchain (@lookonchain) October 16, 2023 The positive aspect of this accumulation is the growing confidence among large MKR holders in the token’s potential. It may also indicate their belief in MakerDAO’s ecosystem. However, there are also potential negative implications, such as the concentration of a significant amount of MKR in the hands of a few entities, which could lead to centralization concerns. As of the latest available data, MKR was trading at $1,395. Despite the increased whale accumulation, the token’s price had remained relatively stable over the past few weeks. However, the network growth of MKR declined, suggesting a waning interest among new addresses. The reduction in network activity may be attributed to overall market sentiment or the emergence of new competitive protocols and tokens. Interestingly, the velocity of MKR remained consistent. This…
The post MKR: Will whales ‘Make’ it out of the bear market? appeared on BitcoinEthereumNews.com.
Despite a bearish crypto market, whales were accumulating MKR. MakerDAO explored integration with zkSync to expand its ecosystem and increase demand for sDAI. Despite the bearish sentiment prevailing in the cryptocurrency market, MakerDAO [MKR] was an outlier, showing signs of growth. This growth was particularly evident in the rising interest of whales in the MKR token. Is your portfolio green? Check out the MKR Profit Calculator Whales move in Whale accumulation has been noticeable, with several substantial transactions recorded recently. For example, one whale withdrew 869 MKR (equivalent to approximately $1.27 million) from Binance [BNB] and held a total of 3,549 MKR (valued at about $5.17 million). Another wallet withdrew 1,001 MKR (approximately $1.46 million) from Binance as well. 3 whales are accumulating $MKR! 0x9e withdrew 869 $MKR ($1.27M) from #Binance 19 hrs ago and holds 3,549 $MKR ($5.17M). Fresh wallet”0x6b” withdrew 1,001 $MKR ($1.46M) from #Binance 20 hrs ago. 0xB4 withdrew 300 $MKR ($437K) from #OKX 11 hrs ago and holds 800 $MKR ($1.17M). pic.twitter.com/bHYDFAoEr4 — Lookonchain (@lookonchain) October 16, 2023 The positive aspect of this accumulation is the growing confidence among large MKR holders in the token’s potential. It may also indicate their belief in MakerDAO’s ecosystem. However, there are also potential negative implications, such as the concentration of a significant amount of MKR in the hands of a few entities, which could lead to centralization concerns. As of the latest available data, MKR was trading at $1,395. Despite the increased whale accumulation, the token’s price had remained relatively stable over the past few weeks. However, the network growth of MKR declined, suggesting a waning interest among new addresses. The reduction in network activity may be attributed to overall market sentiment or the emergence of new competitive protocols and tokens. Interestingly, the velocity of MKR remained consistent. This…
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