Crypto bank Anchorage Digital is drawing attention for suddenly accumulating massive amounts of one decentralized finance (DeFi) altcoin.
Blockchain tracking firm Lookonchain says that Anchorage Digital has used 13 wallets in the past month to accumulate more than $49.4 million worth of MKR, the native token for the DeFi protocol Maker.
The most recent purchases came on Monday, with Anchorage Digital using two newly created wallets to acquire $6.28 million worth of MKR from Binance, according to Lookonchain.
MKR is trading for $2,816 at time of writing, down 1.4% in the last 24 hours.
Lookonchain also noticed one savvy deep-pocketed investor made a quick $3 million after buying a massive amount of Bitcoin (BTC) during last week’s market correction, when the top crypto asset dipped into the high $50,000 range.
“Make more than $3 million in just four days! The whale who bought BTC at the bottom [on May 3rd] deposited 767 BTC ($48.46 million) to Binance for profit [on May 6th]. After the market dropped, he withdrew 767 BTC ($45.44 million) at $59,226 BTC from Coinbase on May 3.
Address: 1PGncMc8diiELpe4JAVCY51fcQ215JegAF.”
Bitcoin is trading for $62,395 at time of writing, down 1.6% in the last 24 hours.
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The post Institutional Crypto Firm Anchorage Digital Accumulates Eight Figures Worth of Ethereum DeFi Coin: Lookonchain appeared first on The Daily Hodl.