Crypto whale pendant. eth has liquidated his MKR holdings on Binance, selling 1,960 tokens for $2.56 million, a move that resulted in a loss of over 7% or approximately $213K, according to a report from Spot On Chain. Following this transaction, the pendant.eth withdrew substantial amounts of other cryptocurrencies: 742.3 ETH ($1.41 million) and 113K FET ($43.3K). His current holdings now consist of 743.3 ETH and 1.079 million FET.
This sale is believed to have had a significant impact on the MKR market performance, with the cryptocurrency experiencing a daily decline of over 2% and a weekly drop of 6.68%. The price of MKR has seen a significant depreciation from its all-time high of $6,339.02 to $1,298.08, marking a price drop of 79.35%. Despite this downtrend, the trading volume for MKR spiked by over 42%, as sell orders increased substantially.
In contrast to the MKR's performance, both ETH and FET experienced price increases. ETH saw a slight rise of 0.66%, trading at $1,890.52, while FET ascended by more than 5%, trading at $0.3809 and reversing its weekly performance to +4.43%. This suggests that while pendant.eth's actions have had an impact on MKR's market performance, and other cryptocurrencies have managed to maintain positive momentum.
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