Cryptocurrency markets had a relatively quiet summer. While Bitcoin and altcoin investors are bored in the calm market, whales are confusing by making interesting buying and selling moves.
Market tracker Lookonchain found that two different Ethereum whales invested in a different altcoin in exchange for ETH. Whales chose to buy Maker (MKR) while removing BTC’s biggest rival from their hands in the past hours.
2 whales are accumulating $MKR.
Whale "0x3737" spent 1,194 $ETH($1.95M) to buy 1,700 $MKR at $1,147 since Sept 4.https://t.co/1kBo03U5Us
Whale "0xaD0" spent 992 $ETH($1.63M) to buy 1,261 $MKR at $1,291 since Sept 18.https://t.co/aYVTJkgA1s pic.twitter.com/XojIUQrSGk
— Lookonchain (@lookonchain) September 20, 2023
According to Lookonchain’s post, two different wallets purchased a large amount of MKR in recent weeks. The first whale has sold 1,194 ETH since September 4. The second account has sold 992 units since September 18th. A new one was added to the whale addresses that sold Ethereum and bought Maker this morning.
Another whale spent 1,218 $ETH ($1.95M) to buy 1,683 $MKR at $1,162 since Sept 12.
Recently, there have been 3 whales accumulating $MKR.https://t.co/MTxPSF6xwXhttps://t.co/S7DsJT5giE pic.twitter.com/nqP0G4xpOI
— Lookonchain (@lookonchain) September 21, 2023
According to Lookonchain’s post, the third whale sold 1,218 ETH and started buying MKR tokens. The moves of major investors seem to have had an impact on the price of the altcoin unit. Maker has outperformed Ethereum by 18% since the beginning of September.
MKR Price
MKR, the cryptocurrency belonging to the main issuer of the DAI stablecoin, has attracted attention with its rise in recent days.
Maker, which dropped to $1,000 in the last hours of August, is currently trading at $1,335.
