Trader Profits $292.4K from MKR Short Position

8/14/2024 9:53:58 AM

According to Lookonchain, a savvy trader successfully closed a short position on Maker (MKR) and earned approximately $292.4K. On July 19, the trader borrowed 500 MKR from Aave and sold it for 1.37M USDC. Sixteen hours ago, they repurchased the MKR for only 1.07M USDC, allowing them to repay the debt at a lower price and pocket the difference. (Source)

USDC Aave MKR profit short position

More from Lookonchain (@lookonchain): Looking for smartmoney onchain

---