According to Spot On Chain, MakerDAO founder Rune Christensen has been making significant purchases of MKR over the past few days. On August 28, he swapped 215K DAI for 211.61 MKR at an average price of $1,016.
MakerDAO founder @RuneKek further swapped 215K $DAI for 211.61 $MKR at $1,016 on average 7 hours ago.
Total purchases over the past 4 days: 409.06 $MKR at $1,015 on average ($415K).
More details: https://t.co/euqRjxj2QO https://t.co/klhAOy3gy9 pic.twitter.com/uYkaP2HxgD
— Spot On Chain (@spotonchain) August 29, 2023
This comes after he swapped 200K DAI for 197.45 MKR at an average price of $1,013 on August 25. In total, he has made purchases of 409.06 MKR over the past four days at an average price of $1,015, amounting to $415K.
Interestingly, there was typically a pump following each of Christensen’s purchases. In his last round of purchases, he swapped a total of 1.61M DAI for 1,613 MKR at an average price of $998.2 between July 16 and July 20, 2023. During that period, the price of MKR surged by up to 51.8% from $883.3 to $1,342.7.
Christensen currently holds 988,903 DAI in his wallet and may swap more for $MKR in the future. At the time of this writing, MRK is trading at around $1,026.49 which is down nearly 7% over the last seven days.
Source: CoinMarketCap
DISCLAIMER: The Information on this website is provided as general market commentary and does not constitute investment advice. We encourage you to do your own research before investing.
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