According to Foresight News, Lookonchain monitoring has revealed that a smart money address recently closed its MKR short position, earning $292,400. On July 19, the address borrowed 500 MKR from Aave and sold it for $1.37 million USDC. Due to a price drop, 16 hours ago, the trader repurchased the necessary MKR to repay the debt for only $1.07 million USDC, securing a significant profit.