Whale Was Patient for 50 Days, Selling Its Giant DeFi Altcoin, Which Fell in Half, on Binance!

An investor faced a huge loss in his investment in the giant decentralized finance (DeFi)-focused altcoin Maker (MKR).

According to a post by the on-chain data and analysis account Lookonchain on September 14, an investor concluded his investment in Maker with a huge loss. The trader in question purchased 1,100 MKR on July 27 and paid a total of $2.91 million for this transaction.

The investor, who bought the tokens at a unit price of $2,643, transferred them to the Binance exchange in the past hours and made the sale. However, during the sale process, Maker's price had dropped to $1,613. This rapid price drop caused the investor to lose $1.13 million, or approximately 40%, in just 50 days.

It is estimated that the whale is waiting for prices to recover, but has been overwhelmed by the bearish market for a while and has made such a decision.

According to CoinGecko data, Maker has fallen by 2.6% in the last 24-hour period and is finding buyers at $1,587 at the time of writing.