Is Every Drop a Buying Opportunity? The Answer, According to These Five Fresh Wallets: “Yes!” They Accumulated a Significant Quantity of This Altcoin from…
While there is a decline in altcoins, led by Bitcoin (BTC), large investors, taking advantage of the downturn, are seizing new buying opportunities.
During this period, there has been notable whale activity in Maker DAO (MKR), which has caught the attention of these influential investors.
According to a recent report from Spot on Chain, five newly created wallets purchased a total of 2,650 MKR from Binance, totaling a staggering $9.52 million investment.
Even though these wallets have already generated a profit of $619,000, it is speculated that they belong to a single institution rather than individual investors.
In addition to the aforementioned purchases, a wallet associated with Maker DAO transferred 505 MKR, equivalent to $1.91 million, to Wintermute. This transaction further indicates the interest and engagement of major players in the MKR market.
The report suggests that the price of MKR has rebounded by approximately 7% in the last 10 hours, following a recent market drop. However, it is clear that whales have different perspectives on the token’s future.
The information shared indicates that the MKR market continues to attract attention and interest from both institutional and individual investors.
Disclaimer: The information presented here is not intended as financial advice.