Odaily Planet Daily News Arkham Intelligence's blockchain data shows that Paradigm Capital appeared to be preparing to sell its $3.5 million MakerDAO governance token MKR on Wednesday afternoon.
According to Arkham, 3,000 MKR were transferred from Paradigm’s crypto wallet to an OTC exchange wallet. Paradigm made a similar move in March, when it sent roughly $20 million in MKR to the same wallet and then transferred the tokens to Coinbase.
Earlier this week, a16z similarly made the move, eventually depositing $7 million worth of MKR to Coinbase, possibly for sale.
According to news yesterday, according to Lookonchain monitoring, the Paradigm address unstaked 3,000 MKR (about 3.37 million U.S. dollars). On March 16, Paradigm transferred 26,625 MKR (approximately $19.8 million) to Coinbase.