Millions of Dollars of ETH Sales from MakerDAO

The decentralized finance (DeFi) platform MakerDAO has sold over $112 million in ETH in total.

Millions of Dollars of ETH Sales from MakerDAO. DeFi platform MakerDAO sold ETH one after another. MakerDAO, which took action after Celsius, which serves as a crypto loan company, suspended transfer and withdrawal transactions in the morning hours of TSI, sold 65 thousand ETH with a value of 75 million dollars at a price of 1,155 dollars. While it was learned that a transaction fee of 150 thousand dollars was paid for this sale, the DeFi platform continued its heavy sales transactions later in the day. In order to reduce its outstanding debts, MakerDAO sold 27,946 ETH this time, worth approximately $37.3 million, at a price of $1,335. The platform, which sold $112,775 million worth of ETH in just one day, decreased its debt from 53.2 million to 20.9 million. It has been learned that MarkerDAO plans to attract new funds thanks to the increase in the guarantee rate of return to 385 percent. According to Parsec.finance, which made an evaluation on the subject, if the price of Ethereum drops to the levels of 1100-1200 dollars, approximately 900 million dollars will be deleted from Aave, Makerdao and Compound. According to Defi Llama data, MakerDAO managed to maintain a total locked asset (TVL) of $7.98 billion, ranking first among all DeFi protocols, despite losing 23.02% of its TVL value in the last 30 days due to the Celsius crisis and the decline in the DeFi ecosystem. The platform is estimated to have a 9.41 percent dominance of $84.79 billion worth of DeFi TVL.     Source: Koinbulletin