According to Lookonchain, two large wallets withdrew a combined 3,114 MKR (valued at $5.4 million) from Binance on June 3, 2025, with both addresses subsequently upgrading their assets to SKY and staking them. Specifically, address 0x1515 withdrew 2,248 MKR ($3.93 million) while 0xbB22 withdrew 866 MKR ($1.47 million) within an 11-hour window. These whale withdrawals and staking moves indicate a potential reduction in MKR exchange supply, which could heighten scarcity and trigger bullish market sentiment among traders. The migration to SKY and staking also signals increased investor confidence in long-term protocol developments, possibly impacting MKR and SKY liquidity and pricing in the broader DeFi ecosystem (source: Lookonchain, intel.arkm.com).