While Bitcoin did not perform as expected after spot ETF approval, some altcoins managed to attract the attention of the market with their rise.
One of these altcoins was Maker (MKR).
According to Lookonchain's post, the MKR price has increased by approximately 70% in the last month and this is due to whale accumulation.
Accordingly, last month, 10 whale wallets accumulated 32,759 MKR (worth $66.66 million and constituting 3.55% of the circulating supply) from exchanges.
Wallet named 0xd520 withdrew 12,103 MKR (worth $24.63 million) again today, while 0x04e9 withdrew 4,802 MKR (worth $9.77 million) from Binance 20 days ago and sent this MKR via Binance 16 hours ago, presumably to prevent on-chain tracking. He distributed the 's to 2 new addresses.
“MKR price increased by almost 70% in the last month!
We noticed that 10 whale wallets accumulated MKR 32,759 ($66.66 million, 3.55% of the circulating supply) from exchanges last month.
Wallet 0xd520 withdrew 12,103 MKR (worth $24.63 million) today.
0x04e9 withdrew 4,802 MKR ($9.77 million worth) from Binance 20 days ago and distributed these MKR to 2 new addresses via Binance 16 hours ago, presumably to prevent on-chain tracking.
0xE68E withdrew 3,650 MKR ($7.4 million worth) from Binance 18 days ago.
0x4760 withdrew 3,158 MKR ($6.4 million worth) from Binance 15 days ago.
0x5D7a withdrew 3,098 MKR ($6.3 million worth) from Binance between December 1, 2023 and January 2, 2024.
……”
MKR continues to trade at $2,046 at the time of writing.
*This is not investment advice.