MKR Price Rally Defies Market Trends, Stuns Traders as Whales Cash Out Holdings

Maker (MKR) price rallied over 44% in the past week. The DeFi token holds steady even as large wallet investors and whales holding MKR take profits in the ongoing price surge.

The price of Maker (MKR) has surged over 44% in the past week, defying the broader market downturn and setting a new seven-month high. Despite the rally, on-chain data suggests that large wallet investors and whales holding MKR are cashing out their holdings as the token’s price continues to rally.

Cryptocurrency derivatives data from crypto intelligence platform Coinglass showed a large positive spike in the Open Interest for MKR on February 21. This marks a massive increase in the total value of open contracts in MKR across derivatives exchanges.

Coinglass data showed that MKR OI stood at $116.85 million at the time of writing on Friday. This indicates a high level of speculative activity in the MKR market, with traders placing a significant amount of capital on the line.

Meanwhile, on-chain data from DeFiLlama showed that the total value of assets locked in MKR surged to $5.675 billion. This coincides with the rising price, relevance, and demand for tokens among traders. The rebranding to Sky protocol has proven effective for driving adoption in market participants.

According to Santiment data, several negative spikes in the Network realized profit/loss metric have been observed in the MKR chart since mid-January 2025. This indicates that several traders and MKR holders are shedding their holdings and realizing losses.

Consistent realization of losses is typically considered a sign of capitulation and is often followed by a recovery in the token’s price. Notably, MKR’s daily active addresses recorded a nearly three-month peak this week, signaling the rise in interest from traders.

MKR token’s supply held by whales (excluding exchange wallets) has climbed, recovering from the decline noted in the first week of February. This is another bullish sign for the DeFi token.

The In/Out of money around price indicator on IntoTheBlock showed that 30% of the wallet addresses holding MKR are currently sitting on unrealized losses. In contrast, 65.55% of MKR token holders have unrealized gains in their portfolio.

Combining the In/Out of the money with the Network realized profit/loss metric, it is less likely that profitable traders take profits as the current trend is that of capitulation. The likelihood of further selling pressure on MKR is low for next week, meaning the token could extend its gains and maintain the underlying positive momentum.

Maker (MKR) weekly price forecast

Maker (MKR) broke out of its downward trend on February 12, and since then, the token has rallied, extending gains nearly every day this week. At the time of writing, MKR is trading at $1,473 on Friday.

The token is close to resistance at $1,632 and $2,050, two key levels in MKR’s upward trend between October 26 and December 4, as observed in the daily price chart. In the event of a correction, MKR could find support at $1,125.

Two key technical indicators, the Moving average convergence divergence indicator and relative strength index, flash bullish signs on the daily timeframe. MACD shows consecutive green histogram bars above the neutral line and RSI reads 74 and is sloping upwards.

While this typically generates a sell signal, in the case of MKR, MACD and the underlying positive momentum in the MKR price trend support further gains.

A rally to test resistance at $1,632 marks a nearly 15% rally in MKR price.

Even as whales cash out their MKR holdings amidst price surges, they fail to influence prices negatively. While it is typical of a token to observe a decline in its price if large entities shed their holdings, MKR price is holding steady.

A wallet address identified as inveteratus.eth on the blockchain sold 1,230 MKR worth 1.78 million USDC and secured a 30% profit of $418,000 within less than a month.

On-chain data showed that in April 2024, the whale took a $1.86 million profit from previous MKR trades. The cumulative profit of the whale is $2.27 million through MKR trades.

A smart whale has cashed out as the $MKR price surges ~20%!

In the past 8 hours, whale 0x637 ("inveteratus.eth") sold all 1,230 $MKR for 1.78M $USDC at ~$1,448, securing a $418K profit (+30.6%) in less than a month.

Back in April 2024, the whale took $1.86M profit from a… https://t.co/W5i2A