- Lookonchain revealed that CMS Holdings and a16z deposited large amounts of MKR to exchanges in the past 24 hours.
- MKR’s price stood at $1,142.05 after its 24-hour gain of more than 15%.
- A significant long-term bullish technical flag was triggered on MKR’s daily chart in the past 3 days.
The blockchain tracking firm Lookonchain revealed in a tweet this morning that Andreesen Horowitz (a16z) and CMS Holdings reduced the amount of Maker (MKR) in their portfolios over the past few hours. This sell activity by CMS Holdings and a16z comes after the altcoin’s price climbed approximately 20% in the last 24 hours.
1/ The price of $MKR skyrocketed by ~20% today.We noticed that a16z has been depositing $MKR to #Coinbase to sell recently.
And CMS Holdings also reduced its holdings of recently accumulated $MKR 2 hrs ago. pic.twitter.com/6AvjWf9NYh
— Lookonchain (@lookonchain) July 21, 2023
In a second post, Lookonchain shared that a16z deposited 12,864 MKR, worth $12.6 million at the time, to Coinbase (NASDAQ:COIN) via the address “0xd520” throughout the past week. The fund manager then sent another 6,900 MKR, estimated to be worth $8 million, to a new address over the pas…
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