The price of Maker (MKR), a decentralized finance (DeFi) altcoin that manages the MakerDAO protocol, has soared after two major buyouts by crypto whales.
The first whale, identified by the address 0x780, received 3,800 MKR from Binance 20 hours ago at $631.6. This single transaction represented 19.5% of the trading volume at the time. The second whale with address 0xb61 raised a total of 3,670 MKR from Binance, Houbi and OKX at an average price of $639.
In total, the whales entered two exchanges: one for MKR 2,000 (10.24% of volume) at $633 the day before, and 1,015 MKR (6% of volume) at $655 six hours ago.
Some observers noticed that the two whale wallets were created at the same time and received the same amount of ETH from Binance on their first transaction. This has led to some speculation that they may be part of a whale group or union working together to accumulate MKR and influence its price.
Maker (MKR) is the native token of MakerDAO, a DeFi platform that allows users to borrow stablecoins called DAI by locking various cryptocurrencies as collateral.
*Not investment advice.
