On-chain data shows large Maker holders have accumulated recently, a sign that the rally could extend soon.
Maker Large Holders Have Continued To Expand Their Holdings Recently
According to data from the market intelligence platform IntoTheBlock, inflows to the wallets of the large MKR investors have been taking place for a while now. The “large holders” here refer to those investors who hold at least 0.1% of the cryptocurrency’s circulating supply.
In Maker’s case, this value would equal about $1.2 million. Thus, the only holders who would clear these criteria would be the sharks and whales, the largest entities on the network.
These investors generally hold some influence in the market, as they can move many tokens at once. Thus, the behavior of this cohort could be worth watching, as it may reveal answers about where the asset might be heading next.
One way to track the behavior of these humongous holders is through the “netflow” metric, which measures the net amount of
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