A16Z Transfers the Final 6586 MKR, Accumulates Over 30,000 MKR Deposits to CEX in a Month
Bitget2023/08/01 02:15
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold. Trade now!
A welcome pack worth 6200 USDT for new users! Sign up now!
According to blockchain analyst @余烬 on Twitter, approximately 3 hours ago, A16Z moved the remaining 6586 MKR (approximately $8.1 million) from two addresses. As per their usual practice, it is expected that A16Z will gradually deposit these MKR tokens into a U.S.-based CEX (centralized exchange) over the next few days.
With this move, A16Z has now transferred all of its 37,518 MKR holdings (approximately $46 million) to exchanges, indicating a suspected liquidation of MKR that has been ongoing for nearly a month. The selling pressure from A16Z on $MKR is likely coming to an end.
0
0
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
Understand the market, then trade.
Bitget offers one-stop trading for cryptocurrencies, stocks, and gold.
Trade now!
Crypto prices
MoreBitcoin
BTC
$62,990.16
+0.06%
Ethereum
ETH
$1,879.47
-0.08%
Tether USDt
USDT
$0.9990
-0.00%
USDC
USDC
$0.9999
-0.00%
XRP
XRP
$1
+0.09%
Solana
SOL
$75.34
+0.04%
TRON
TRX
$0.3308
-0.44%
Hyperliquid
HYPE
$56.87
+1.06%
Dogecoin
DOGE
$0.06952
-0.73%
Zcash
ZEC
$485.54
-1.19%
How to buy BTC
Bitget lists BTC – Buy or sell BTC quickly on Bitget!
Trade now
Become a trader now?A welcome pack worth 6200 USDT for new users!
Sign up now