Dragonfly Capital-linked wallet deposits $9.05M in SKY to Coinbase

A wallet suspected of belonging to crypto investment firm Dragonfly Capital deposited 137 million SKY, worth approximately $9.05 million, to Coinbase a short time ago, on-chain analyst EmberCN reported. The tokens were originally withdrawn from Binance five years ago. At the time, they were pre-rebranding MakerDAO (MKR) tokens valued at around $20.45 million. Deposits to exchanges are typically interpreted as an intent to sell.