Whale Alert: $270 Million in USDC Moved to MakerDAO
CryptoNewsTerminal Staff22 May, 2024
Whale Alert: $270 Million in USDC Moved to MakerDAO
On-chain data provided by Whale Alert indicate a transfer of 271,000,000 USDC, equivalent to $270 million, from an anonymous address to a MakerDAO address. The reasons behind this transaction are currently unknown, and it is uncertain whether it signifies a loan, a repayment, or another type of financial transaction. MakerDAO is a decentralized autonomous organization (DAO) that governs the Maker Protocol, a lending platform on the Ethereum blockchain. The Maker Protocol enables users to borrow Dai, a stablecoin pegged to the US dollar, by depositing collateral in the form of other cryptocurrencies.
