HomeEthereumAnchorage Digital, an Institutional Crypto Firm, Acquires Eight-Figure Amount of Ethereum DeFi...

Anchorage Digital, an Institutional Crypto Firm, Acquires Eight-Figure Amount of Ethereum DeFi Coin: Lookonchain

-


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.

LATEST POSTS

XRP Outperforms BTC, SOL, and ETH on Binance, Coinbase, and Kraken in Key Metric

XRP Surpasses Bitcoin, Solana, and Ethereum in Trade Volume on Major Exchanges The cryptocurrency market is buzzing with excitement as XRP, the digital asset associated...

Asset manager predicts that Trump administration could designate Bitcoin as a strategic reserve asset

Bitcoin's Potential as a Strategic Reserve Asset Under a Future Trump Administration Asset manager Bryan Courchesne recently made a bold prediction on CNBC, suggesting that...

What crypto policies might potential Vice Presidents under Kamala Harris bring to the table?

Potential Democratic and Republican Candidates for the 2024 Presidential Election The 2024 presidential race is heating up as experts predict that United States Vice President...

Kaiko predicts that Ethereum price will be influenced by ETF inflows in the near future

Spot Ether ETF Inflows Expected to Impact Price Sensitivity, Says Kaiko The launch of spot Ether ETFs is set to shake up the crypto market...

Most Popular