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Giant Whale is Accumulating DeFi Altcoin: Purchased 4 Million Dollars in One Go! - Coin Bulletin
An unknown whale spent 4 million dollars to buy 2,827 MKR. This move strengthened the expectation of a recovery in the Maker price.
According to the data from the on-chain analysis platform Lookonchain, an unnamed whale spent approximately 4 million dollars worth of DAI 6 hours ago to buy out 2,827 Maker (MKR) tokens. The average purchase price was around 1.415 dollars. This large transaction was interpreted as a sign that confidence in Maker has been renewed among investors.
Maker (MKR), is known as one of the most established projects in the decentralized finance (DeFi) world. The Maker protocol, which operates on the Ethereum blockchain, is a system that controls a stablecoin called DAI with a fixed price. MKR token holders participate in the governance of this system and have the right to vote on decisions made. The project was launched in 2017 and has become one of the cornerstones of the DeFi ecosystem.
The price of Maker entered a serious correction phase starting from the end of 2024, experiencing sharp declines like many DeFi tokens. However, the recent horizontal consolidation and some large buy transactions indicate recovery signals. This purchase is also seen as a buy out opportunity by many investors.