The post Trader Makes $292.4K After Closing MKR Short Position! appeared first on Coinpedia Fintech News
As per a latest tweet from lookonchain, A smart trader closed his $MKR short position and made $292.4K. Lookonchain monitoring showed that the smart money address recently closed its MKR short position, netting $292,400. On July 19, the address borrowed 500 MKR from Aave and sold it for $1.37 million USDC. Due to the price drop 16 hours ago, the trader bought back the MKR needed to pay off the debt for just $1.07 million USDC, making a significant profit.