<ul>
 <li>BlockTower Capital sold a large share of its MKR.</li>
 <li>The overall price of MKR declined, but MakerDAO saw growth.</li>
</ul>
Over the last few months, <a href="https://eng.ambcrypto.com/search/MKR" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">MakerDAO [MKR]</a> did very well as a protocol. Despite this, many whales were starting to lose interest in the token.
<h4>Whales swim away</h4>
As per data from <a href="https://twitter.com/lookonchain/status/1731486565455852000?ref_src=twsrc%5Etfw" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="external">Lookonchain</a>, BlockTower Capital completed transfers of 3,333 MKR to Coinbase and FalconX in the “last 5 hours,” accruing around $1.5 mln in profits.
BlockTower Capital initially acquired 12,502 MKR between the 20th of May and the 14th of November 2022. At press time, the firm’s holdings stood at 9,746 MKR, with a floating profit of $4.5M.
The recent actions by BlockTower Capital could influence the broader MKR market in several ways. Notably, such significant transactions may signal confidence or strategic positioning, potentially attracting attention from other market participants.
The profits generated could lead to increased interest in MKR as an investment, contributing to positive sentiment.
Is your portfolio green? Check out the&nbsp;<a href="https://ambcrypto.com/calculator/maker-profit-calculator" target="_blank" rel="noopener noreferrer nofollow" data-wpel-link="internal">MKR Profit Calculator</a>
On the flip side, large transactions also have the potential to impact market dynamics. If BlockTower Capital decides to make further moves, it might lead to short-term price fluctuations, impacting trading patterns.
Traders and investors may closely monitor such activities for cues on potential market trends and adjust their strategies accordingly.
At press time, MKR was trading at $1,513.53. In the last 24 hours, its price fell by -0.92%. Only time will tell if MKR’s price will decline further.
<div id="attachment_80877" style="width: 100%" class="wp-caption aligncenter"><a href="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-scaled.jpg" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow"><img aria-describedby="caption-attachment-80877" loading="lazy" class="size-full wp-image-80877" src="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-scaled.jpg" alt="" width="2560" height="867" srcset="https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-scaled.jpg 2560w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-300x102.jpg 300w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-1024x347.jpg 1024w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-768x260.jpg 768w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-1536x520.jpg 1536w, https://engamb.sfo2.digitaloceanspaces.com/wp-content/uploads/2023/12/04141642/Maker-MKR-14.16.23-04-Dec-2023-2048x693.jpg 2048w" sizes="(max-width: 2560px) 100vw, 2560px"></a>
 Source: Santiment
</div>
<h4>Revenues on the rise</h4>
Despite the performance of the token, MakerDAO did well with its 5% yield.
While a 5% yield from the risk-free rate may not sound particularly enticing, Maker has achieved its second-highest monthly revenue ever, defying conventional expectations. Notably, in 2022, the DAI supply was almost double what it is today.
Maker continues to dominate as the leading decentralized application (dApp) in terms of revenue, with a significant gap between its earnings and those of its closest competitors.
<blockquote class="twitter-tweet" data-width="550" data-dnt="true">
 5% yield from the risk-free rate might not be a sexy narrative..
 ..but Maker just hit its second highest monthly revenue ever<img src="https://s.w.org/images/core/emoji/13.1.0/72x72/1f32a.png" alt="🌪" class="wp-smiley" style="height: 1em; max-height: 1em;">
 (and in 2022 the DAI supply was nearly 2x as large as today).
 Maker remains the #1 dapp in terms of revenue and it's not even close.
 Revenue in the… <a href="https://t.co/kidVcnHNLk" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">pic.twitter.com/kidVcnHNLk</a>
 — Thor<img src="https://s.w.org/images/core/emoji/13.1.0/72x72/26a1.png" alt="⚡" class="wp-smiley" style="height: 1em; max-height: 1em;">Hartvigsen (@ThorHartvigsen) <a href="https://twitter.com/ThorHartvigsen/status/1731388492125462565?ref_src=twsrc%5Etfw" data-wpel-link="external" target="_blank" rel="noopener noreferrer nofollow">December 3, 2023</a>
</blockquote>
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The post <a rel="noopener noreferrer nofollow" href="https://eng.ambcrypto.com/whales-sell-their-mkr-were-prices-affected/" data-wpel-link="internal" target="_self">Whales sell their MKR: Were prices affected?</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://eng.ambcrypto.com" data-wpel-link="internal" target="_self">AMBCrypto</a>.

Whales sell their MKR: Were prices affected?

AMBCrypto

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