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Enterprise capital agency a16z has made one other vital deposit of Maker (MKR) to Coinbase, as reported by Lookonchain on Twitter on July 23, 2023. The agency deposited 1,380 MKR, equal to roughly $1.52 million, into the deal with “0x127941a7741bf11B0391fE995beB60852e5eC13f”.
This isn’t the primary time a16z has made such a transfer. On July 21, 2023, Lookonchain reported that a16z deposited 1,500 MKR, value round $1.73 million, to Coinbase.
At present, the deal with “0x127941a7741bf11B0391fE995beB60852e5eC13f” holds a considerable quantity of MKR, totaling 5,520 MKR, which is valued at round $6 million.
Along with a16z’s actions, one other vital transaction was reported by Lookonchain. An unidentified whale unstaked 4,210 MKR, equal to about $4.85 million, and deposited all of the MKR to Binance.
Including to this, a tweet from EmberCN on July 18, 2023, supplies additional perception into a16z’s current MKR transactions.
In line with the tweet, a16z has been shifting MKR into Coinbase from the deal with “0xd52055A39a3d2f7505C739f981f296Ea31B50191”. Previously week, 9,004 MKR, valued at roughly $8.43 million, have been transferred to Coinbase from a16z-related addresses. As of the tweet’s date, a16z-related addresses nonetheless maintain a complete of 28,514 MKR, value round $26.7 million.
The current transactions by a16z and the unidentified whale might point out the continuing promoting stress within the Maker (MKR) market. Nevertheless, the explanations behind these vital deposits stay unclear. As all the time, buyers and market watchers are suggested to conduct their very own analysis and train warning when coping with cryptocurrency investments.
Picture supply: Shutterstock
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