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A16Z Transfers the Final 6586 MKR, Accumulates Over 30,000 MKR Deposits to CEX in a Month
Bitget2023/08/01 02:15
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.
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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.
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