- Recent downturns in Bitcoin (BTC) and altcoins have instilled fear in some investors, causing them to shy away from the market.
- However, other investors have perceived these dips as buying opportunities and have intensified their acquisitions.
- Ethereum (ETH)-based MakerDAO (MKR), a favorite among crypto whales, has witnessed notable purchases during this period.
Discover the latest trends and whale activities in the crypto market, highlighting significant investments that are shaping the future of MakerDAO (MKR).
Whales Make Significant MKR Purchases Amid Market Downturn
During a recent market downturn, certain savvy investors have taken the opportunity to accumulate more of the Ethereum-based MakerDAO (MKR). According to data shared by Lookonchain, crypto whales have collectively invested $5.63 million in MKR, consequently leading to an increase in its price.
Detailed Insights into Whale Purchases
Lookonchain’s data highlighted two significant whale activities. One whale has been steadily accumulating MKR since June 27, purchasing a total of 1,465 MKR at an average price of $2,476 each, amounting to $3.63 million. This whale previously bought 1,884 MKR at $1,157 and sold them at $1,406, netting a profit of approximately $468,000. This whale also holds a significant amount of PEPE, valued at over $30.87 million, with a realized gain exceeding $30 million.
The second whale made a substantial purchase of 777 MKR for $2 million USDT at a rate of $2,587 per MKR, merely nine hours before Lookonchain’s report. This whale’s history includes buying 1,575 MKR at $2,879 each and selling them at $3,083, earning around $321,000 profit.
BlackRock’s Potential Impact on MakerDAO
Besides the activities of crypto whales, BlackRock, a major global investment management firm, is reportedly planning to participate in MakerDAO’s Tokenize Treasury Investment Program. This initiative aims to invest tokenized U.S. Treasury bonds worth $1 billion, a move that has positively influenced MKR’s market performance.
Conclusion
The recent downturn in the crypto market has not deterred all investors; instead, it has created opportunities for strategic acquisitions of MakerDAO (MKR). With notable whale purchases and the potential backing from BlackRock’s Tokenize Treasury Investment Program, MKR’s market trajectory appears promising. Investors should keep a close watch on these developments, as they could signal significant long-term gains.
