Whales holding large amounts of UNI and MKR have begun to sell part of their Tokens, creating notable liquidity in the market.
According to on-chain data analysis, this whale has executed sales of millions of MKR in exchange for USDT and continues to transfer MKR to the exchange for additional trading while still holding a large amount of UNI and MKR.
MAIN CONTENT
The MKR whale sold 2,831 MKR worth over 5.9 million USDT on July 18, 2024.
Continued transferring 1,700 MKR equivalent to 3.47 million USD to Binance for sale.
How much Token has the MKR whale sold and when?
According to on-chain analysis expert Ember, the whale sold 2,831 MKR on July 18, 2024, bringing in about 5.93 million USDT.
This is the largest transaction recorded by the whale, reflecting a move to flee or restructure the portfolio of individuals holding significant MKR volumes. The sell-off of MKR contributes to considerable liquidity volatility in this Token market on that day.
What are the MKR whale's plans for future trading?
Just 20 minutes after the first sale transaction, the whale continued to transfer an additional 1,700 MKR worth approximately 3.47 million USD to Binance for further selling.
The continuous transfer of MKR to the exchange shows that the whale tends to reduce holdings of this Token in the short term, possibly due to risk predictions or wanting to take profits at current prices.
Ember analysis, on-chain expert, 2024
This move reflects a strategy of segmented selling, avoiding sudden pressure on MKR prices while maintaining flexibility for future trades.
How much UNI and MKR does the whale still hold after the sales?
Currently, the whale still holds about 2.494 million UNI worth approximately 25.32 million USD and 1,720 MKR valued at 3.49 million USD.
This holding amount shows that the whale still maintains a large position and can significantly impact supply and demand in the market. Holding the majority of the Tokens indicates potential subsequent activities depending on market developments.
What is the significance of whale transactions for the cryptocurrency market?
Transactions from whales are always an important signal reflecting short-term market trends.
"Whales can increase market volatility when they decide to sell or hold large amounts of Tokens. Observing whale behavior helps traders and investors predict upcoming price movements."
Nguyễn Văn Hùng, CEO of a cryptocurrency market analysis company, 2024
The recent large-scale selling of MKR by the whale increased selling pressure, creating opportunities for retail investors to enter the market. However, still holding a large amount of Tokens also warns of the potential for high volatility to continue.
How can large whale transactions of MKR and UNI affect prices?
Large volume transactions often have a direct impact on liquidity and Token prices.
Token Transaction Amount (Token) Transaction Value (USD) Potential Impact MKR 2,831 + 1,700 5.93 million + 3.47 million Increased selling pressure, potential short-term price decrease UNI 2.494 million (held) 25.32 million Maintained large supply, high market volatility risk
The comparison shows that MKR is under stronger selling pressure than UNI, which may make MKR sensitive to price fluctuations in recent trading sessions.
Frequently Asked Questions
What does the large sale of MKR by whales mean for investors?
Selling a large amount of MKR signals short-term downward pressure and warns investors to closely monitor price developments.
How might the UNI and MKR held by whales affect the market?
The large holding gap indicates that the supply of inventory Tokens remains high, which may create increased supply pressure in the future.
What is noteworthy about trading directly on Binance?
Binance has high liquidity, allowing whale transactions to be executed quickly and having an immediate impact on Token prices.
How does on-chain analysis help predict whale trading trends?
On-chain analysis provides real-time data on whale wallet movements, helping to identify early signs of selling or accumulating Tokens.
What are the risks of trading based on whale behavior?
Trading according to whale behavior can lead to unexpected price volatility, downside risks, and confusion due to completely unpredictable actions.
Source: https://tintucbitcoin.com/ca-voi-mkr-chuyen-1-700-mkr-ban/
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