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Crypto Trader Bags $300,000 in a Month Shorting Leading DeFi Protocol’s Governance Token

Crypto Trader Bags $300,000 in a Month Shorting Leading DeFi Protocol’s Governance Token


CryptoGlobe
2024-08-15 01:29:00

A cryptocurrency trader has managed to make around $300,000 in a single month shorting MakerDAO’s MKR token, having borrowed 500 MKR from popular decentralized finance (DeFi) protocol Aave on July 19, to then sell the tokens for $1.37 million. The trader, according to on-chain analysis service Lookonchain, then spent little over $1.07 million in the


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