Following the sharp declines in Bitcoin (BTC) and altcoins, whales continue to buy, thinking that the current levels are the bottom.
Accordingly, two fresh whales purchased AUCTION, Uniswap (UNI), and MKR from Binance.
According to Spot on Chain’s post, fresh whales have turned to DeFi tokens, taking advantage of low prices.
Whale “0xace” purchased 374,333 UNI worth $2.3 million and 1,735 MKR worth $2.06 million.
Whale “0xEc1” withdrew 500,000 AUCTIONs worth $13.9 million from Binance in the last 3 days.
This could be one of four whale wallets that collectively purchased 26.2% of the total AUCTION supply in just 21 days, currently making $32.9 million (+87%) in unrealized profits.
These purchases suggest that whales may be preparing for an imminent DeFi rally, but only time will tell whether this rally will happen.
https://twitter.com/spotonchain/status/1901457912129863995
*This is not investment advice.
