Blockchain detective Lookonchain urges altcoin investors to watch the MKR chart closely today. According to the report, Tron founder Justin Sun transfers loads of MKR to his Binance wallet. Market players are worried that the million-dollar transfer will turn into sales.
TRON founder is on the agenda again with suspicious transactions
The 115.1 million True USD (TUSD) Justin Sun sent to Binance at the beginning of May caused discussions with CZ. The latest reports suggest that its founder has now sent $4.3 million worth of MKR to Binance.
Sun recently transferred 6,801 MKR to Binance wallet. If he sells all of this fund, he could print a red candle on the MKR chart with a trading volume of $12 million in the last 24 hours.
Meanwhile, Lookonchain included a warning in its message, “Beware of MKR price changes.” Blockchain detective rarely issues such warnings. cryptocoin.com You can take a look at the latest Lookonchain reports that we have transferred from this page.
In terms of price, there was no major change in the MKR chart. Its price is trading at $633.63, up 1.5% on the day.
MakerDAO is in a critical voting process
MakerDAO (MKR), a DeFi protocol, has launched a vote on a proposal that would allow its delegates and their whereabouts to be anonymous. Backed by co-founder Rune Christensen, the proposal will become a mandatory requirement for eligible voters if approved.
There were other parts of the proposal that had consequences for those who opposed the directive. According to the motion, which first appeared in February, delegates found guilty of revealing their identity to the public will waive their paychecks. In addition, any community member who provides evidence of doing anything wrong in this direction will receive a reward.
Meanwhile, on-chain data shows Maker’s Herfindahl Index soaring. Glassnode recently announced that the metric is 0.022. For context, the metric measures the current resource’s share of addresses in relation to average address balances in the Maker network. When this metric is low, it serves as an indicator of low supply density.
Concerning TVL, MKR is still second to Lido Finance, which it recently outpaced. TVL is currently at $6.91 billion. This means that the unique liquidity added to Maker has decreased. Therefore, the health of the protocol was not working at the highest possible rate.
MakerDAO recently laid the groundwork for the Endgame proposal. This idea makes delegates less prone to criminal targets. It will also eliminate situations where delegates leverage relationships to support a specific cause. In addition, it will help the project minimize the incidence of hacking.
Contact us to be instantly informed about the last minute developments. twitter‘in, Facebookin and InstagramFollow and Telegram And YouTube join our channel!
Risk Disclosure: The articles and articles on Kriptokoin.com do not constitute investment advice. Bitcoin and cryptocurrencies are high-risk assets, and you should do your due diligence and do your own research before investing in these currencies. You can lose some or all of your money by investing in Bitcoin and cryptocurrencies. Remember that your transfers and transactions are at your own risk and any losses that may occur are your responsibility. Cryptokoin.com does not recommend buying or selling any cryptocurrencies or digital assets, nor is Kriptokoin.com an investment advisor. Therefore, Kriptokoin.com and the authors of the articles on the site cannot be held responsible for your investment decisions. Readers should do their own research before taking any action regarding the company, assets or services in this article.
Disclaimer: Advertisements on Kriptokoin.com are carried out through third-party advertising channels. In addition, Kriptokoin.com also includes sponsored articles and press releases on its site. For this reason, advertising links directed from Kriptokoin.com are on the site completely independent of Kriptokoin.com’s approval, and visits and pop-ups directed by advertising links are the responsibility of the user. The advertisements on Kriptokoin.com and the pages directed by the links in the sponsored articles do not bind Kriptokoin.com in any way.
Warning: Citing the news content of Kriptokoin.com and quoting by giving a link is subject to the permission of Kriptokoin.com. No content on the site can be copied, reproduced or published on any platform without permission. Legal action will be taken against those who use the code, design, text, graphics and all other content of Kriptokoin.com in violation of intellectual property law and relevant legislation.