Maker

Solana

Rune

Uniswap

Read

<div class="cryptonews">
 <p class="is-style-lead">A transfer of 6,000 Maker (MKR) tokens, valued at more than $8.4 million, has been moved from the Binance cryptocurrency exchange to an unknown wallet.&nbsp;</p>
 <h2 class="wp-block-heading" id="crypto-whales-accumulate-makerdao">Crypto whales accumulate MakerDAO</h2>
 <p>On Oct. 15, a <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a> of 6,000 Maker <a rel="noopener noreferrer nofollow" title="tokens" href="https://thebittimes.com/tag/tokens.html">tokens</a> — equivalent to $8,486,455 — occurred, according to Whale Alertas. The <a rel="noopener noreferrer nofollow" title="tokens" href="https://thebittimes.com/tag/tokens.html">tokens</a> were moved from Binance, one of the leading cryptocurrency exchanges, to an unidentified <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a> shrouded in mystery.</p>
 <p>In recent months, data regarding Maker has shown a series of notable deposits, swaps, and accumulations conducted by prominent players in the cryptocurrency space.&nbsp;</p>
 <p>Among them is MakerDAO’s co-founder, Rune Christensen, who has been making waves with his strategic moves.&nbsp;</p>
 <p>Rune Christensen acquired 1,613 MKR by swapping a substantial 1.61 million DAI at an average price of $998.2 per MKR. He also removed 300.7 MKR and 305.8K DAI from the Uniswap liquidity pool, signaling a calculated shift in his holdings.</p>
 <figure class="wp-block-embed is-type-rich is-provider-twitter wp-block-embed-twitter">
  <div class="wp-block-embed__wrapper">
   <blockquote class="twitter-tweet" data-width="550" data-dnt="true">
    <p lang="en" dir="ltr">6,000 #MKR (8,486,455 USD) <a rel="noopener noreferrer nofollow" title="transfer" href="https://thebittimes.com/tag/transfer.html">transfer</a>red from #Binance to <a rel="noopener noreferrer nofollow" title="unknown" href="https://thebittimes.com/tag/unknown.html">unknown</a> <a rel="noopener noreferrer nofollow" title="wallet" href="https://thebittimes.com/tag/wallet.html">wallet</a>https://t.co/lUgBScklgV</p>— Whale Alert (@whale_alert) October 15, 2023
   </blockquote>
  </div>
 </figure>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> Bitcoin whale addresses increase as price maintains $26k support
 </div>
 <h2 class="wp-block-heading" id="revamping-the-maker-protocol">&nbsp;Revamping the Maker protocol</h2>
 <p>In May, Justin Sun, the founder of the Tron network and a crypto investor, transferred MKR tokens worth $4.3 million to Binance.&nbsp;Blockchain data reveals that a wallet connected to Sun initiated a transaction involving 6,802 MKR tokens at a price of $633.96 per token. This substantial movement of MKR tokens adds another layer of intrigue to the larger crypto landscape.</p>
 <p>Christensen has put forward a proposal where he suggests reimagining the Maker protocol on a new blockchain, forked from Solana.&nbsp;</p>
 <p>This ambitious move is part of Maker’s “Endgame” plan, aimed at enhancing efficiency, resilience, and participation. However, Christensen acknowledges that this transition would be a long-term endeavor, spanning at least three years.</p>
 <p>Christensen’s choice of Solana is guided by several advantages that the blockchain offers. Firstly, Solana boasts a highly optimized technical codebase designed for operating a single blockchain efficiently.&nbsp;</p>
 <p>Secondly, it has demonstrated resilience even after significant incidents, such as the FTX crash, highlighting its long-term potential. Finally, Solana’s adaptability for app chains, exemplified by its implementation in the Pyth network, makes it an attractive option for Maker’s future.</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> You might also like: </span> MakerDAO introduces Spark Protocol for DeFi lending
 </div>
 <h2 class="wp-block-heading" id="maker-mkr-price-action">Maker (MKR) price action</h2>
 <p>Notably, the price of Maker has experienced an 18.6% increase in the past 30 days. MKR is currently hovering at around $1,440, per data from CoinGecko.&nbsp;</p>
 <figure class="wp-block-image size-large"><picture decoding="async" class="wp-image-14204475">
   <source type="image/webp" srcset="https://cdn.thebittimes.com/images/2023/10/16/f2a82c5842f1351276ff2d2bdb90295d.webp.webp">
   <img decoding="async" width="1024" height="1024" src="https://cdn.thebittimes.com/images/2023/10/16/f2a82c5842f1351276ff2d2bdb90295d.webp" alt="Maker tokens worth over $8m transferred from Binance to unknown wallet - 1"> 
  </picture>
 </figure>
 <p>The token has a strong support level at $1,350 and resistance at $1,600. Additionally, the RSI weekly value stands at 74, indicating robust investor sentiment in MKR at the moment.&nbsp;</p>
 <div class="cn-block-related-link">
  <svg class="cn-block-related-link__icon icon" aria-hidden="true"><use xlink:href="#"></use>
  </svg> <span class="cn-block-related-link__prefix"> Read more: </span> MKR rallies amid new proposals on the network
 </div> <span class="google-news-banner__label">Follow Us on Google News</span>
</div>
<p>Source: <a rel="noopener noreferrer nofollow" target="_blank" href="https://thebittimes.com/maker-tokens-worth-over-8m-transferred-from-binance-to-unknown-wallet-tbt66447.html">https://thebittimes.com/maker-tokens-worth-over-8m-transferred-from-binance-to-unknown-wallet-tbt66447.html</a></p>

Maker tokens worth over $8m transferred from Binance to unknown wallet

Table of Contents

TheBitTimes

Other articles published on Oct 15, 2023

Chinese State Newspaper Warns: “Altcoin Is a Scam; False Information”

Ribbon Finance (RBN) Price Prediction 2024, 2025, 2030, 2040, and 2050

Bitcoin Price Prediction as BTC Bulls Secure $26,000 Level – Is The Next Leg Up Starting?

Shiba Inu Holder Calculates Possible Growth if 99% of SHIB Supply is Burned

SEGA executive wades into the potential of NFTs in gaming

Know Some of the Most Popular Dapps on the Avalanche Platform

Join our free newsletter for daily crypto updates!