Maker

Token

Spot

<p>The price of governance token Maker (MKR) has sunk below the key $1,400 support level, according to on-chain analytics firm <a href="https://twitter.com/spotonchain/status/1709397711685116072" target="_blank" rel="noopener noreferrer nofollow">Spot On Chain</a>. In response, some major MKR holders appear to be offloading portions of their holdings.</p>
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<p>Spot On Chain identified two large whales collectively swapping around 983 MKR worth over $1.4 million to Ethereum over the past day.</p>
<p>One whale known as 0x432 closed a highly profitable MKR position, gaining an estimated $506,000 on tokens acquired in September below $1,160. This whale fully divested the 649 MKR holdings via DEX to realize gains as the price declined.</p>
<figure class="wp-block-image size-large"><img decoding="async" loading="lazy" width="1024" height="611" src="https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-1024x611.png" alt="" class="wp-image-348434" srcset="https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-1024x611.png 1024w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-300x179.png 300w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-767x458.png 767w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-1536x917.png 1536w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-2048x1222.png 2048w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-251x150.png 251w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-100x60.png 100w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-586x350.png 586w, https://captainaltcoin.com/wp-content/uploads/2023/10/image-72-788x470.png 788w" sizes="(max-width: 1024px) 100vw, 1024px">
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<p>Meanwhile, whale 0x373 swapped 333 MKR to ETH while still retaining a 1,300 MKR position. This holder has profited an estimated $445,000 on MKR acquired in September.</p>
<p>These maneuvers illustrate savvy traders taking gains as conditions worsen. With MKR flashing technical weakness, locking in profits on underwater positions allows whales to book gains while limiting downside exposure.</p>
<p>However, most are not completely abandoning MKR, indicating a long-term belief in the project’s value. The sales likely constitute portfolio rebalancing rather than a verdict on Maker’s prospects.</p>
<p>Still, the actions hint at a lack of urgency among major holders to accumulate at current prices. Their lukewarm engagement highlights downside risks in the near term if support levels continue to falter. However, according to the latest data, MKR is trading at $1,414.</p>
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<p>The post <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com/maker-whales-offload-mkr-at-lower-prices-as-token-dips-below-1400/">Maker Whales Offload MKR at Lower Prices as Token Dips Below $1,400</a> appeared first on <a rel="noopener noreferrer nofollow" href="https://captainaltcoin.com">CaptainAltcoin</a>.</p>

Maker Whales Offload MKR at Lower Prices as Token Dips Below $1,400

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2023년 10월 4일에 게재된 다른 기사

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