While some investors are buying dips in Bitcoin and altcoins, some investors are making large sales by taking advantage of the recent rise.
At this point, venture capital company Placeholder first invested $32 million worth of Maker (MKR) and UMA into Coinbase.
According to the post of on-chain data analysis platform Spot On Chain, Placeholder deposited 7,250 MKR worth $20.9 million and 5 million UMA worth $11.9 million to Coinbase during the day.
Placeholder participated as an early investor in both MKR and UMA, purchasing MKR at an average price of $765 and UMA at $0.382.
Comparing the bid price to the ask price and Placeholder made a 4x profit on MKR and a 12x profit on UMA.
Galaxy Digital Avalanche (AVAX) Sells!
Apart from Placeholder, Galaxy Digital also sold altcoins. According to a post by on-chain analyst The Data Nerd, Dalaxy Digital deposited $2.93 million worth of Avalanche (AVAX) to Binance.
Accordingly, Galaxy Digital deposited approximately 105,000 AVAX (2.93 million ) from its over-the-counter (OTC) wallet to Binance.
After the sales, MKR, UMA and AVAX prices decreased.
*This is not investment advice.
