In the past 24 hours, the largest holder of $MKR has withdrawn 973 $MKR (valued at $2.76M) from Coinbase Prime.
This marks the whale’s first activity in three months, drawing significant attention in the DeFi community.
The whale now holds an estimated total profit of $64M (+100%) from $MKR, with a total of 45,109 $MKR ($124M) in their possession. The holdings are distributed across two wallets:
– 44,420 $MKR ($122.4M) in wallet “0x14c,” the largest non-team MKR-holding wallet.
– 689 $MKR ($1.91M) in wallet “0x78a”.
The largest holder of $MKR withdrew 973 $MKR ($2.76M) from #CoinbasePrime 4 hours ago.
Notably, this is the whale’s first activity in the past 3 months.
The whale now has an est. total profit of $64M (+100%) from $MKR with 45,109 $MKR ($124M) in holding, including:
➡️ 44,420… pic.twitter.com/tWH5dRIC7f
— Spot On Chain (@spotonchain) August 1, 2024
$MKR has emerged as a major player and one of the strongest tokens in the DeFi protocol space, bolstered by the recent Real World Assets (RWA) narrative.
Coinbase Announced Launch Of Perpetual Listing For $MKR
Today, Coinbase announced the launch of DYM-PERP, MKR-PERP, and AAVE-PERP markets, which are now fully trading on Coinbase International Exchange and Coinbase Advanced. Traders can now utilize limit, market, stop, and stop limit orders in these markets.
Our DYM-PERP, MKR-PERP, and AAVE-PERP markets are now in full-trading mode on Coinbase International Exchange and Coinbase Advanced. Limit, market, stop, and stop limit orders are all now available. $DYM $MKR $AAVE pic.twitter.com/ms5Z6YgJLl
— Coinbase International Exchange 🛡️ (@CoinbaseIntExch) August 1, 2024
The whale’s significant withdrawal and the overall activity around $MKR signal strong investor confidence and continued growth in the DeFi space. The introduction of new perpetual markets on Coinbase further enhances $MKR’s trading opportunities, likely contributing to its growing prominence.
As $MKR continues to solidify its position within the DeFi ecosystem, the actions of major holders and the expansion of trading options on platforms like Coinbase will be key indicators of its future performance. With substantial profits and strategic movements by large holders, $MKR’s trajectory in the DeFi space looks promising.
I think a few of these DeFi 1.0 protocols are starting to look interesting. Especially if $ETH starts performing properly.$MKR $LDO $AAVE
1. These projects are well known and got most of their unlocks out of the way. All these coins are trading at a 90%+ Market Cap to Fully…
— Daan Crypto Trades (@DaanCrypto) July 31, 2024
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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