A crypto investor takes a long position in MKR, the token of Ethereum-based lending platform Maker.
Blockchain platform Lookonchain to share According to a whale, this week from crypto exchange MEXC 1,789 MKR worth $3 million pulled.
MKR, a governance token, can be used to have a say in decisions regarding the future of Maker Protocol and how the stablecoin DAI will be used.
Balina later sent the MKRs he withdrew from the stock exchange to Aave, another decentralized platform.
Aave users use the cryptocurrencies they send to the platform as collateral. in USDC can borrow. USDCs later price is expected to rise can be exchanged for a cryptocurrency, which A method to take a long position is seen as.
According to Lookonchain’s post, the whale received money in return for the MKRs he deposited in Aave. $1.2 million USDC and transferred them to MEXC. The investor does this Taking a long position on MKR It is assumed that he did it for.