In a series of significant transactions causing volatility in the altcoin market, four whale addresses made waves by trading a total of $1.28 million worth of Maker (MKR) tokens in the last 18 hours. Additionally, PEPE whales have also become active and are sending and withdrawing a lot of PEPE to the exchanges.
Whales took profits from altcoin sales
An address with shortcode 0xe86 attracted attention by depositing 309.88 MKR tokens worth $418,000 on Binance when the price of MKR was $1,348. What makes this move even more surprising is that these MKR tokens were first purchased through Binance on June 6, 2023 for just $200,000. Following this deposit, the address made a significant profit of $218,000, a staggering 109% gain in just 3.5 months. Notably, this address no longer holds any MKR tokens.
Meanwhile, short wallet address 0xc2b burst onto the scene with a total of $531,000 by selling 402.58 MKR tokens for 334.01 ETH at an average price of $1,319. The interesting thing about this address is its history. Because in 2020, he reached $ 299,000 by purchasing 537.36 MKR tokens at an average price of $ 556 using ETH. Additionally, in April 2021, he transferred 100 MKR tokens, worth $52.5 thousand at the time, to another address named 0xaee. After remaining dormant for approximately 2.5 years, this address woke up during the recent MKR price surge to cover these transactions. Similar to the previous address, it no longer holds MKR tokens.
Profits were also made from small-scale MKR trading
Address 0x5b7 completed two small-scale but profitable MKR trading cycles, selling 123.06 MKR tokens at $1,311 for 161,236 DAI. These transactions resulted in a combined profit of $8,657, representing a gain of 2.51%. Like others, this address has now divested its MKR holdings. The 0x73a shortcode address entered the MKR market by selling 134.68 MKR tokens for 173,874 USDT at $1,291. However, it is worth noting that this address purchased MKR tokens at a high price of $1,361, resulting in a slight loss of $9,409k, which is equivalent to a 5.13% decline. Similar to its counterparts, this address no longer holds MKR tokens.
PEPE whales transfer to stock markets
While these whales are making waves in the MKR market, they are also keeping a close eye on the altcoin PEPE, which has been making headlines due to intra-team conflicts and price fluctuations. Wintermute Trading, a leading market making company, recently transferred 8.3 trillion PEPE tokens worth $5.43 million to centralized exchanges. However, a cryptocurrency whale with short wallet address 0x9d5 continued to accumulate significant amounts of PEPE from exchanges. In addition to these movements, a significant number of PEPE tokens were moved to centralized exchanges throughout the day, each with a minimum value exceeding $100,000. Despite these developments, PEPE managed to gain 16% in value in the last 24 hours. cryptokoin.comAs we reported, last month, a controversy arose when some of the main developers of the PEPE token sold a significant number of tokens from multisig wallets, which was seen as a betrayal by the main team of the project.
