While there is a decline in altcoins, led by Bitcoin (BTC), whales, turning the declines into opportunities, are pursuing new purchases.
At this point, there was whale activity on the Maker DAO (MKR) front, which is generally on the whales' radar.
According to Spot on Chian's post, five new wallets purchased 2,650 MKR from Binance, worth $9.52 million.
While these wallets have already generated a profit of $619 thousand, the wallets are thought to belong to a single institution.
While 5 new wallets purchased MKR, a wallet affiliated with Maker DAO also transferred 505 MKR worth $1.91 million to Wintermute.
“MKR price has recovered to around 7% (in about 10 hours) after the last market drop, but whales seem to have different views on the token!
1. Multisign 0xbba wallet (affiliated with MakerDAO) moved 505 MKR ($1.91 million) to Wintermute Trading OTC at approximately $3,788 in the last 13 hours.
5 new wallets (presumably owned by an institution) purchased 2,650 MKR ($9.52 million) from Binance 10 hours ago at around $3,592 (local bottom) and they are now collectively making a profit of $619k (+6.5%).”
*This is not investment advice.