- MKR surges 30% in two days, reaching $2,675.73 amid protocol upgrades.
- Investor nets $5.21 million in profit from MKR, selling at $2,702 each.
- MakerDAO adjusts fees to bolster DAI, with $1.1B RWA in focus.
MakerDAO has implemented significant changes to its protocol to bolster the stability and demand for its Dai (DAI) stablecoin amidst fluctuating market conditions. This decision comes on the heels of a significant price surge for its native token, MKR, which has seen an over 30% increase over two days. The bullish momentum was still in play at press time, with the MKR price trading at $2,675.73, up 7.49% from the intra-day low.
MKR/USD 24-hour price chart (source: CoinStats)
Amidst this volatility, a prominent investor, known by the address 0x8af, capitalized on the situation by selling 939.8 MKR for approximately 2.54 million DAI, equating to an average price of around $2,702 per MKR.
This sale was part of a more significant strategic play following a withdrawal of 4,077 MKR from the Bybit exchange in October 2023 at a much lower price of approximately $1,439 per MKR. This investor ret…
The post MakerDAO’s MKR Rallies 30% Post “Executive Vote,” Whale Secures $5.21M Profit appeared first on Coin Edition.