This maneuver involved the transfer of an impressive 1,736 MKR tokens, a transaction valued at approximately $1.89 million. The impact of this move reverberates through the market, drawing attention to the dynamic nature of crypto transactions.
đ¨ Smart whale 0x828 closed its $MKR deal by depositing 1,736 $MKR to #Binance at $1,087 ($1.89M) 9 hrs ago.
It bought 3,334 $MKR at $1K on avg ($3.34M) in July then sold via #DEX and deposited to #Binance at $1,110 on avg ($3.7M).
Total estimated profit: $357K (+10.67%). https://t.co/cwcStWaYGR pic.twitter.com/FCskNGn09s
â Spot On Chain (@spotonchain) August 22, 2023
Interestingly, this specific address, 0x828, had previously executed a strategic purchase. In July, the address acquired a considerable 3,334 MKR tokens, amounting to a staggering $3.34 million investment. The tokens were acquired at an average price of $1,000, indicative of a calculated investment approach.
The subsequent actions undertaken by this whale address are equally noteworthy. The acquired MKR tokens were strategically sold through decentralized exchanges (DEX) and the Binance platform. This calculated maneuver reaped substantial returns, with the average selling price amounting to $1,110 per token. As a result, the address managed to secure an estimated profit of $357,000, translating to a notable profit percentage of +10.67%.
Notably, the whale also received back 1.863M USDC from Binance after it deposited those MKR to the CEX.
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