BullishEthereum
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šØ [Alert for holder $MKR ] ā Whales are starting to offload!
In the past 10 hours, the fund #7Siblings has begun to sell MKR to accumulate $ETH . Specifically:
š Swap 707 MKR for ETH around the price range of ~$1,500
š° Total transaction value: ~$763,000
Currently, this fund's wallet is still holding 1,248 MKR (~$7.8M)
Coincidentally, on April 8, Genesis Trading also made a similar move ā converting MKR to ETH. Are the "big players" expecting ETH to #outperform MKR in the near future, or is this simply a restructuring step to optimize positions in DeFi protocols?
Regardless of the reason, the wave of transition from MKR to ETH is clearly beginning to take shape.
ā° Anyone holding MKR needs to keep a close watch!
#BullishEthereum
In the past 10 hours, the fund #7Siblings has begun to sell MKR to accumulate $ETH . Specifically:
š Swap 707 MKR for ETH around the price range of ~$1,500
š° Total transaction value: ~$763,000
Currently, this fund's wallet is still holding 1,248 MKR (~$7.8M)
Coincidentally, on April 8, Genesis Trading also made a similar move ā converting MKR to ETH. Are the "big players" expecting ETH to #outperform MKR in the near future, or is this simply a restructuring step to optimize positions in DeFi protocols?
Regardless of the reason, the wave of transition from MKR to ETH is clearly beginning to take shape.
ā° Anyone holding MKR needs to keep a close watch!
#BullishEthereum
Genesis Trading unexpectedly "bottomed out" $ETH by selling $MKR ā A signal for a new strategy?
Just about an hour ago, Genesis Trading's wallet executed a series of notable transactions by swapping 607 MKR for ETH at a price of around 1,500u/ETH, equivalent to a total value of approximately 697,000 USD.
What is particularly interesting is that this amount of MKR was previously accumulated by Genesis between February 9 and 12 at an average price of only about 1,000 USD. This means that this organization has taken a profit on MKR of more than 15% just to bottom out ETH.
This move has led many to question: Could it be that #Genesis is betting that ETH will outperform MKR in the near future? Or is this simply a strategic move in their investment portfolio?
#bullish
Just about an hour ago, Genesis Trading's wallet executed a series of notable transactions by swapping 607 MKR for ETH at a price of around 1,500u/ETH, equivalent to a total value of approximately 697,000 USD.
What is particularly interesting is that this amount of MKR was previously accumulated by Genesis between February 9 and 12 at an average price of only about 1,000 USD. This means that this organization has taken a profit on MKR of more than 15% just to bottom out ETH.
This move has led many to question: Could it be that #Genesis is betting that ETH will outperform MKR in the near future? Or is this simply a strategic move in their investment portfolio?
#bullish
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