Whale Acquires 3998.5 ETH Amidst Maker’s $10 Million DAI Loan: A Deep Dive into the Dominance of ETH

On November 3, COINOTAG highlighted a significant transaction within the cryptocurrency realm, revealing that a prominent whale borrowed 10 million DAI from Maker over a two-day period. This substantial capital influx enabled the purchase of approximately 3,998.5 ETH. As it currently stands, this entity’s holdings have surpassed 65,000 ETH, valued at roughly $161.25 million, with an average cost basis of about $1,743 per coin. This strategic acquisition follows prior bold maneuvers, during which the whale invested $1.04 for ETH and WBTC in 2022 before liquidating all WBTC for further Ethereum exposure. Such activities underscore the ongoing volatility and opportunistic strategies typical of high-net-worth players in the evolving cryptocurrency ecosystem.