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- Smart traders 0x3737 and 0xCf9b profit significantly from MKR and PEPE trades.
- MakerDAO’s $1B Tokenization Grand Prix aims to boost real-world asset onboarding.
According to a tweet from Lookonchain, two smart traders recently made large swings in the Maker (MKR) and Pepe (PEPE) markets.
Since June 27, the first trader, whose address is 0x3737, has purchased 1,465 MKR tokens worth around $3.63 million at an average price of $2,476.
We noticed that 2 smart traders bought $MKR recently!
0x3737 bought 1,465 $MKR($3.63M) at an average price of $2,476 since June 27.
0x3737 previously bought 1,884 $MKR($2.18M) at $1,157 and sold it at $1,406, making ~$468K.
0x3737 also holds 3.58T $PEPE($30.87M) and has a… pic.twitter.com/F9x8xKFBKX
— Lookonchain (@lookonchain) July 13, 2024
Significant Profits and Strategic Moves by Smart Traders
Previously, this trader purchased 1,884 MKR tokens for $2.18 million at $1,157 each and later sold them for $1,406, making a profit of around $468,000. Furthermore, 0x3737 has a significant position in PEPE, with 3.58 trillion tokens worth $30.87 million, and has profited by more than $30 million from these holdings.
The second trader, 0xCf9b, spent 2 million USDT to buy 777 MKR tokens at $2,587 each. In the past, 0xCf9b purchased 1,575 MKR tokens for $4.53 million at $2,879 each and sold them for $3,083, profiting around $321,000.
According to CoinMarketCap, MKR’s price is currently around $2,789.73, representing a 5.52% increase over the last 24 hours and a 21.72% bullish trend over the last seven days.
This favorable trend is consistent with MakerDAO’s recent developments, particularly the launch of the Spark program, which includes a $1 billion Tokenization Grand Prix targeted at expediting the onboarding of real-world assets (RWAs).
This Grand Prix is available to innovators and issuers that want to shape the future of tokenized public securities.
Furthermore, CNF previously reported that PEPE, the cryptocurrency mentioned in this article, had risen by 12% despite a huge market sell-off.
The meme token sector continues to be lively, with MOG Coin leading the way as the top gainer in today’s major crypto market. PEPE is presently trading at about $0.000009058, up 2.60% over the last 24 hours on a trading volume of $508.12 million.
These actions by 0x3737 and 0xCf9b highlight the clever traders strategizing in the cryptocurrency market, taking advantage of both MKR and PEPE to make sizable profits. The bullish trend in MKR, as well as the tenacity of PEPE in the face of market volatility, show the cryptocurrency landscape’s continuous prospects.
As MakerDAO’s projects progress and the tokenization of real-world assets gains support, these tendencies may develop, providing new insights into market behavior and investment strategies.
