Anchorage Digital Accumulates $49.4 Million Worth of DeFi Altcoin MKR, Whale Makes $3 Million Profit with Bitcoin Trading

Crypto bank Anchorage Digital is making waves in the decentralized finance (DeFi) space as it has been revealed that the bank has been accumulating massive amounts of the DeFi altcoin MKR. According to blockchain tracking firm Lookonchain, Anchorage Digital has used 13 wallets in the past month to amass over $49.4 million worth of MKR, the native token for the Maker protocol.

The most recent purchases by Anchorage Digital occurred on Monday, with the bank utilizing two newly created wallets to acquire $6.28 million worth of MKR from Binance. MKR is currently trading at $2,816, down 1.4% in the last 24 hours.

In addition to Anchorage Digital’s activity, Lookonchain also highlighted a savvy investor who made a quick $3 million profit after buying a significant amount of Bitcoin during last week’s market correction. The investor deposited 767 BTC ($48.46 million) to Binance for profit and then withdrew 767 BTC ($45.44 million) at $59,226 BTC from Coinbase.

Bitcoin is currently trading at $62,395, down 1.6% in the last 24 hours. The cryptocurrency market continues to be volatile, with investors and institutions closely monitoring movements and making strategic moves to capitalize on opportunities.

As Anchorage Digital and other players in the crypto space continue to make significant moves, the DeFi and cryptocurrency markets remain dynamic and full of potential for those willing to take calculated risks. Stay tuned for more updates on this developing story.