MakerDAO ($MKR) has been added to Grayscale’s prestigious “Trust” Fund investment portfolio, aligning with other notable assets like Solana ($SOL), Sui ($SUI), Lamden ($TAO), and Chainlink ($LINK).

This inclusion allows traditional finance investors to gain exposure to MKR, the utility and governance token of the Ethereum-based decentralized autonomous organization (DAO), MakerDAO, through a more familiar securities format.

This move marks a significant step in bridging the gap between traditional finance and the burgeoning crypto market. Grayscale’s Trust provides an accessible avenue for institutional investors to participate in the DeFi space without directly dealing with the complexities of digital assets.

According to iCrypto, MKR has become the top DeFi token in terms of whale inflows over the past week. The increased accumulation by large holders represents 2.8% of the total MKR held by whales, highlighting growing confidence in the token.

In the DeFi Balance category, MakerDAO now ranks third, just behind Uniswap (UNI) and Chainlink (LINK), further solidifying its position in the market.

$MKR Whale Wallets Play Smart During The Bearish Sentiment 

In a notable short-term trade, the wallet 0x1772 recently capitalized on bearish sentiment around MKR. On July 19, this wallet borrowed 500 MKR (approximately $1.37 million) from AAVE to execute a short sell. Today, the same wallet bought back the 500 MKR for around $1.06 million, repaying the loan and securing a profit of approximately $310,000 from the transaction.

The combination of institutional interest from Grayscale and active whale trading underscores the dynamic nature of MKR in the current market. As MakerDAO continues to attract significant attention, its role in the DeFi ecosystem is likely to grow, making it a key token to watch in the coming months.

Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.

Follow us on Twitter @themerklehash to stay updated with the latest Crypto, NFT, AI, Cybersecurity, and Metaverse news!

Image Source: peshkov/123RF // Image Effects by Colorcinch