MakerDAO (MKR) price is down nearly 2% on Monday. The token is experiencing an increase in selling pressure as whales shed their MKR holdings in the past day.
Maker DAO whales sold over 3,000 MKR tokens in the past day. Maker supply on exchanges climbed between April 20 and Monday. MKR price declined by nearly 2% on Monday. Maker DAO price is down nearly 2% on Monday. The token is experiencing an increase in selling pressure as whales shed their MKR holdings in the past day. Crypto intelligence tracker Spotonchain identified two whale wallets that sold over 3,075 MKR tokens, likely ushering a correction in the asset’s price.
com/EN2ktLlzVU — Spot On Chain April 22, 2024 Typically, asset sale by whales drives down its price as it increases the selling pressure on the asset. Data from Santiment shows an increase in exchange reserves of MKR, between April 20 and 22. Exchange holdings of MKR climbed by nearly 5% within two days. Higher exchange reserves of an asset increase selling pressure and negatively influence the price.
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