Crypto Whale Sells Off $5,370,000 Worth of MakerDAO As MKR Corrects: Lookonchain

One crypto whale is attracting discover for promoting thousands and thousands of {dollars} price of a decentralized finance (DeFi) altcoin amid a market correction.

Based on blockchain monitoring agency Lookonchain, one deep-pocketed investor sold their trove of MKR, the native token for the DeFi protocol Maker, inside days because the asset dipped under $2,000.

“A whale dumped 2,658 MKR for five.37 million DAI at a median value of $2,022 in [four] days. And the value of MKR has dropped by 7.6% for the reason that whale started dumping.

The whale nonetheless holds 2,007 MKR ($3.9 million), watch out of promoting once more!”

Supply: Lookonchain/X

Maker is buying and selling for $1,973.71 at time of writing, up barely within the final 24 hours.

Lookonchain additionally noticed that one other crypto whale simply scooped up a big quantity of the decentralized oracle community Chainlink (LINK).

“A fresh wallet withdrew a total of 424,259 LINK ($6.26 million) from Binance [on January 28th].”

Supply: Lookonchain/X

LINK is buying and selling for $15.05 at time of writing, up practically 1.42% within the final 24 hours.

The blockchain monitoring agency beforehand reported that one dealer made enormous earnings shopping for and promoting Wen (WEN), a memecoin constructed on the Solana (SOL) community. The dealer offered WEN to realize $682,000 in USDC and held on to $941,000 in unrealized earnings.

“In just 14 hours, this trader made over $1.6 million trading MEME coin 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, realizing a profit of 682,000. And currently holds 7.6 billion WEN ($941,000), with an unrealized profit of $941,000.”

WEN is buying and selling for $0.000111 at time of writing, down greater than 30% within the final 24 hours.

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