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Maker, one of the largest decentralized finance (DeFi) platforms, saw its native cryptocurrency MKR collapse due to whale sales.

In a sharing made by on-chain analysis account Lookonchain on March 29, the post referred to the heavy sales coming from a whale.

According to the sharing, a whale sold 4,753 MKR for 17 million dollars causing a sharp drop in the price. According to CoinGecko data, MKR, which was around 3,400 dollars at around 16.00 yesterday, had reached 3,859 dollars with a nice rise.

Later, with the sale from the whale, MKR, which had risen again, fell to around 3,515 dollars. During this process, MKR lost approximately 9% of its value.

The whale in question currently holds 1.8 million dollars worth of 512 MKR.

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