In a dynamic month for the cryptocurrency market, whales are making waves with strategic moves in various crypto assets. Maker (MKR) coin, HFT, and Ethereum (ETH) have emerged in the spotlight, showcasing the complex dance between influential investors and market dynamics.
MKR Coin increased by 70 percent with whale accumulation
Maker (MKR) has witnessed a remarkable rise of nearly 70 percent in its value, fueled by strategic moves by leading investors. Lookonchain’s on-chain platform reported on January 15 that Maker’s rise is closely tied to a concerted effort by ten major wallets. These whales collectively accumulated 32,759 MKR, representing 3.55% of the total supply and a staggering $66.6 million. Among the notable transactions, the wallet with address “0xd520” stood out and withdrew an impressive 12,103 MKR, worth $24.6 million. Another wallet identified as “0x04e9” secured 4,802 MKR worth $9.77 million from Binance just 20 days ago.
Interestingly, this whale diversified his holdings across two different wallets on the same day, presumably to hide his trading activities. While this increase in whale activity indicates increasing confidence in MKR’s potential, the inherent volatility of the cryptocurrency market is evident. Market data reveals Maker’s climb over the last 30 days from $1,324 to $2,225 and then a retracement to $2,057 at the time of writing. Investors and analysts are closely monitoring these whale-driven activities and are anticipating further dynamics and potential price movements of the producer.
HFT and Ethereum whales are also on the move
On January 15, FOMO monitoring detected a whale app for high-frequency trading (HFT) worth approximately $2.94 million from HFT: Taxer. This significant move was followed by a strategic transfer to Coinbase Prime, adding an intriguing layer to the evolving narrative of whale activity in the crypto space. On January 15, point monitoring on the chain reported significant activity from a giant whale associated with the wallet address starting with “0xb82”. This whale dumped 12,219 ETH on Binance 20 hours ago, locking in a $2.2 million profit before a market pullback. This address’s total profit on ETH transactions is $7.79 million, with an impressive win rate of 75% (3 winners out of 4 times).
On the other hand, further investigation by @ai_9684xtpa revealed a giant whale who opened an ETH position three years ago and accumulated a cumulative profit of $9.78 million. Just 19 hours ago, this address transferred 999 ETH to OKX and its market cap is $2.56 million. If everything is sold, the profit will be $2.16 million. Specifically, since October 9, 2023, this address has sold a total of 3,261 ETH and currently has 2,001 ETH remaining. Additionally, according to tracking by @ai_9684xtpa on January 14, a whale address transferred 89,108 AAVE (about $9.18 million) and 4,802 MKR (about $10.05 million). If all assets are sold, the profit from this transaction will reach $3.385 million.
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