Significant movements in the Maker (MKR) token market have drawn attention as two large whale addresses accumulated a total of 22,753 MKR through the FalconX platform. According to monitoring by on-chain analytics firm Lookonchain, wallet 0xb2c7 received 14,000 MKR, valued at approximately $24.25 million, in a transaction that occurred just six hours prior to the latest report. Separately, wallet 0xc23…4D649 added to its holdings by withdrawing 2,979 MKR valued at $5.22 million from FalconX. This wallet has been gradually building its position over the past two months, accumulating a total of 8,753 MKR at an average price of $1,948 per token. The total value of the MKR holdings for this address is now over $10.34 million, though the position shows an unrealized loss of $1.421 million due to a decline in the token’s market price below the average entry level [1][2].

The continued accumulation by these whale addresses suggests a strategic long-term approach to MKR, despite the current negative unrealized gains. Analysts, including on-chain watcher @ai_9684xtpa, have noted that such movements often serve as indicators of potential market shifts. In this instance, the repeated purchases by the same address after a month-long pause reflect a level of confidence in Maker’s underlying fundamentals and its role in the decentralized finance (DeFi) ecosystem. The address has shown persistence in acquiring MKR despite market fluctuations, indicating a belief in the token’s potential for a future rebound [2][3].

On-chain activity has also sparked increased trading volumes on key pairs such as MKR/USDT and MKR/ETH. Historical price action suggests that whale accumulation is often followed by price corrections or rebounds within a few weeks. For example, similar patterns in the past have seen price surges of 15-20% following large whale purchases. Traders are closely watching key resistance levels near $2,000 and support levels around $1,800, as these areas could determine the next phase of MKR’s price movement. The current unrealized loss also highlights the risks associated with holding positions in volatile assets, with analysts recommending the use of stop-loss orders below recent lows around $1,700 [2][3].

The broader market environment has also played a role in the recent MKR movements. The token’s performance is closely tied to Ethereum’s ecosystem, and any developments in Ethereum’s upgrades or regulatory environment could influence MKR’s trajectory. Furthermore, the increased interest in DeFi protocols like MakerDAO suggests that institutional investors are beginning to view the space with renewed optimism. This is reflected in the growing inflow of capital into DeFi-related assets and the increasing adoption of stablecoin integrations. The current market activity aligns with broader trends in the crypto space, where institutional-grade strategies are increasingly being applied to altcoins with strong on-chain fundamentals [2][4].

From a trading strategy perspective, on-chain data and price trends suggest that the accumulation activity by these large holders could serve as a bullish catalyst in the short to medium term. Volume-weighted average price (VWAP) indicators, particularly during Asian trading hours when these transactions are observed, could provide useful insights into potential price inflection points. Traders are advised to monitor real-time on-chain metrics and integrate them with traditional technical analysis tools to optimize entry and exit points. While the floating losses indicate current pressure, the long-term accumulation strategy points to a belief in MKR’s long-term value proposition, especially within the evolving DeFi landscape [2][3].

Source: [1] Two whale addresses hoarded 22753 MKR through FalconX (https://www.chaincatcher.com/en/article/2203493) [2] MKR Whale 0xc23…4D649 withdraws … (https://blockchain.news/flashnews/mkr-whale-0xc23-4d649-withdraws-2-979-mkr-from-falconx-with-10-34m-position-and-1-42m-unrealized-loss)

[3] An address increased its MKR holdings again after a … (https://www.bitget.com/news/detail/12560604949558) [4] A certain whale has increased its holdings by 2979 MKR … (https://www.chaincatcher.com/en/article/2203135)