Whales Became Active in the Altcoin Supported by BlackRock! They Purchased Large Quantities!
Release: 2024/07/14 19:49 Reading: 416
Whales Accumulate Maker DAO (MKR) Amid Market Downturn
Amidst the recent decline in Bitcoin (BTC) and altcoins, some investors exhibited a mix of fear and optimism. While certain investors distanced themselves from the market, others seized the opportunity to acquire assets at discounted prices.
Notably, Ethereum (ETH)-based Maker DAO (MKR), a favored altcoin among whales, witnessed significant purchases during this downturn.
Whale Transactions
Data from Lookonchain reveals that whales acquired $5.63 million worth of MKR, contributing to a subsequent price increase. Two significant whale transactions were identified:
- One whale purchased 1,465 MKR ($3.63 million) since June 27, maintaining an average price of $2,476. This whale previously profited from MKR trading, earning approximately $468,000.
- Another whale invested $2 million in MKR during the day, buying 777 MKR at $2,587. This whale had earlier sold MKR for a profit of ~321 thousand dollars.
BlackRock's Involvement
In addition to whale activity, BlackRock's participation in MakerDAO's Tokenized Treasury Investment Program is seen as a positive catalyst for MKR. MakerDAO plans to invest $1 billion in tokenized US Treasury bonds through this program.
Market Reaction
MKR's price has surged by over 7% in the past 24 hours. This bullish momentum is attributed to both whale accumulation and BlackRock's support.
Disclaimer: This article does not constitute investment advice.
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