A whale has sold a significant amount of Ethereum (ETH) for Maker (MKR), according to a report. The whale’s address holds 10,000 ETH worth $16.3 million, making up over 75% of their total portfolio. The report also states that MKR has been performing well in recent months, doubling in value since June. The token’s surge has been attributed to the release of the “Endgame” roadmap, which includes plans to release a blockchain, rebrand, and introduce two more tokens. The article mentions that MKR plays a crucial role in stabilizing the decentralized autonomous organization (DAO) and is used as a last resort. Holders of MKR participate in governance, voting on proposals to stabilize the algorithmic stablecoin. The author of the report is Dalmas Ngetich, a crypto reporter covering NFTs, blockchain, DeFi, and blockchain news for NewsBTC.
AI Sentiment: Neutral
