The altcoin market attracts attention, especially with the movements of large investors. A prominent cryptocurrency whale known for his strategic portfolio adjustments also came to the fore for this reason. As revealed by on-chain data, it has changed its assets once again. Here are the details…
Cryptocurrency whale traded altcoins
cryptokoin.com As we reported, whales are important for many altcoins. Because the actions of these big investors have the potential to affect the price. In this respect, the movements of a whale attracted the attention of the market. This whale, which previously attracted attention for converting Ethereum (ETH) and Arbitrum (ARB) into Wrapped Bitcoin (WBTC) and Maker DAO (MKR), has continued to make significant changes to its crypto asset portfolio. In a recent transaction, this enigmatic trader sold a staggering 117 million Arbitrum (ARB) tokens. It resulted in the purchase of 906 ETH, equivalent to approximately $1.48 million at current market prices.
This move was followed by the conversion of 1,901 ETH into stablecoin. The impressive amount of $3.11 million was achieved. Immediately afterwards, the whale wallet used a significant portion of this newly acquired capital to diversify its assets. With a total of $1.87 million, the whale purchased 68 WBTC, a representation of Bitcoin. This showed that interest in the flagship cryptocurrency continues. Simultaneously, $1.24 million is being allocated for the purchase of 872 MKR tokens. Thus, the whale’s position in the Maker DAO ecosystem was further strengthened.
Whale bought MKR and ETH
However, recent on-chain data reveals that the whale has once again made significant changes to its portfolio. As of today, approximately 80 percent of its assets consist of MKR tokens. This shows that commitment to the whale’s decentralized finance (DeFi) project is deepening. The remaining 20% is allocated to Ethereum (ETH). This shows that belief in the potential of the second largest cryptocurrency continues. Over the past three days, this influential investor has been actively accumulating MKR tokens. He collected a total of 1,750 MKR tokens at an average price of $1,429 each. This strategic move represents a significant financial commitment totaling the equivalent of approximately $2.5 million.
At the time of this writing, the price of MKR was worth $1,395 per token. This shows that the whale’s latest MKR transactions are currently at a loss of 2.3 percent. However, the whale’s persistent accumulation of MKR tokens indicates a long-term bullish outlook for the Maker DAO project despite short-term price fluctuations. The cryptocurrency community continues to closely monitor the movements of this whale, as its strategic decisions often provide insight into market sentiment and potential trends. The crypto market remains extremely dynamic.
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