A multisignature address, likely associated with UDHC/MakerDAO and identified as 0xbba, has recently deposited its remaining 628 MKR (worth $1.77 million) to Binance through an intermediary wallet, 0x1cc.
Over the past four months, this address has deposited a total of 30,971 MKR to Binance and Wintermute Trading at an average price of $2,972, amounting to $92 million. Each of these deposits has caused noticeable price dips in the market.
Multisign 0xbba (likely @MakerDAO) deposited the last 628 $MKR ($1.76M) to #Binance via wallet 0x1cc 8 hours ago!
Over the past 4 months, this multisign deposited all 30,971 $MKR to Binance and #Wintermute at ~$2,972 ($92M), causing price dips each time.
While multisign 0xbba… https://t.co/vno7maW1AQ pic.twitter.com/cJR7nvUT7Q
— Spot On Chain (@spotonchain) July 22, 2024
While the multisign 0xbba is now out of MKR, another multisignature address, 0x7fd—also likely belonging to MakerDAO and previously linked to wallet 0x1cc—holds 5,177 MKR (valued at $15.1 million) and may soon follow suit in unloading its assets.
Whale Remain Active In The ENS And MKR Markets
In related news, a whale has been active in the ENS and MKR markets. This whale withdrew 73,059 ENS tokens (worth $1.85 million) from Binance and Gate.io between July 8 and July 12 at a price of $25.36. Today, the whale deposited all these tokens back to Binance and Gate.io at a price of $26.86, making a profit of approximately $109,000.
A whale sold $ENS and bought $MKR!
This whale withdrew 73,059 $ENS($1.85M) from #Binance and #Gateio at $25.36 between Jul 8 and July 12, then deposited all of it to #Binance and #Gateio today at $26.86, making ~$109K.
Then the whale withdrew 1,026 $MKR($2.98M) from #Binance… pic.twitter.com/t9M2OrscyD
— Lookonchain (@lookonchain) July 22, 2024
Following this, the whale withdrew 1,026 MKR (valued at $2.98 million) from Binance and Gate.io over the past four hours, indicating a strategic shift in their holdings.
These substantial movements by both the multisignature addresses and the whale highlight the significant influence large holders can have on the MKR and ENS markets. Market participants should keep a close watch on these activities as they could signal further price volatility ahead.
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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