Attention to This Altcoin: Developers Flood Exchanges with Coin (Symbol)!

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MakerDAO developers are reportedly sending large amounts of MKR coins to centralized cryptocurrency exchanges.
According to Spot On Chain, a multi-signature wallet believed to belong to MakerDAO sent 750 MKR to Binance today, with a total value of $2.19 million.
This wallet has deposited a total of $31.2 million worth of 11,993 MKR to crypto exchanges since March 18, 2024, with an average unit value of $3,184.

MakerDAO developers are transferring significant amounts of MKR coins to centralized exchanges, a move that has sparked speculation and intrigue in the crypto community.

Large MKR Transfers to Binance

Spot On Chain reported that a multi-signature wallet, believed to be owned by MakerDAO, sent 750 MKR to the Binance exchange today. With each MKR valued at $2,920, the total value of the transaction amounted to $2.19 million. This is not the first time such a transaction has occurred. Since March 18, 2024, this wallet has deposited a total of $31.2 million worth of 11,993 MKR to various crypto exchanges.

Impact on MKR Price

Interestingly, the MKR price generally starts to decline after these transactions. This correlation has been observed multiple times, leading to speculat... Read the full article for FREE at COINOTAG!