A whale recently dumped a large amount of Maker (MKR) coins, causing concerns among the crypto community. The trader deposited 2,561 MKR tokens worth $5.02 million into Binance, resulting in a loss of $1.3 million. The trader had originally purchased the MKR tokens from OKX six months ago for $6.3 million. Additionally, the trader sold Lido DAO (LDO) at a loss of $120,000. This move by the whale has raised pessimism about Maker's future price. The crypto market is currently experiencing chaos and volatility, with Bitcoin reaching a new all-time high and causing widespread liquidations. Short traders in particular faced losses of $196.41 million. Although MKR is currently up 32.8% in the last 30 days, it is undergoing a price correction along with other cryptocurrencies. Sustaining a move above $1,693 is crucial for maintaining its bullish trend. Maker DAO rebranded as Sky in August, but this change had minimal impact on MKR prices. The token's values have only recently shown signs of recovery following the US presidential election.



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