One crypto whale is drawing attention for selling a decentralized finance (DeFi) altcoin worth millions of dollars amid a market correction.
According to blockchain tracking company Lookonchain, an investor with deep pockets sold their hoard of MKR, the native token for the DeFi protocol maker, within days as the asset fell below $2,000.
“A whale dumped 2,658 MKR for 5.37 million DAI at an average price of $2,022 in [four] to dawn. And MKR’s price has fallen 7.6% since the whale started dumping.
The whale still has 2,007 MKR ($3.9 million), be careful when selling!”
Maker is trading at $1,973.71 at the time of writing, up slightly in the last 24 hours.
Also take a look at Chain noticed that another crypto whale just picked up a large chunk of the decentralized oracle network Chainlink (LINK).
“A new wallet withdrew a total of 424,259 LINK ($6.26 million) from Binance [on January 28th].”
LINK is trading at $15.05 at the time of writing, up almost 1.42% in the last 24 hours.
The blockchain tracking company before reported that one trader made huge profits by buying and selling Wen (WEN), a memecoin built on the Solana (SOL) network. The trader sold WEN to make $682,000 in USDC and retained $941,000 in unrealized profits.
“In just 14 hours, this trader made over $1.6 million trading MEME coins WEN! He spent 125,500 USDC to buy 20 billion WEN when WEN opened trading, and sold 12.5 billion WEN for 807,000 USDC, making a profit of 682,000. And currently holds WEN7.6 billion ($941,000), with an unrealized gain of $941,000.”
WEN is trading at $0.000111 at the time of writing, down more than 30% in the last 24 hours.
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Generated image: Midjourney