MakerDAO Execute $31.20M MKR Token Sales and Introduces New Governance Tokens
MakerDAO Sells $31.20M MKR Tokens in 2 Months
MakerDAO has executed substantial sales of its governance token, MKR, totaling $31.20 million over two months. These sales have impacted market prices and introduced two new tokens aimed at improving governance and stability.
Price Impact on MKR
The on-chain analytical platform Spot On Chain observed a strategic approach by MakerDAO in managing market movements through consistent deposits of MKR tokens. Notably, 11,993 MKR, valued at $31.18 million, were deposited before price drops, indicating a trend. MakerDAO also introduced NewStable (NST) and NewGovToken (NGT) to enhance stability and governance.
- Deposits of 9,043 MKR to CEXs
- Introduction of NST and NGT tokens
- Potential price movements and technical analysis
MKR prices experienced fluctuations but show potential for a bullish reversal according to technical analysis. Investors may consider MakerDAO's deposit patterns in their trading decisions.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.