The co-founder of MakerDAO, Rune Christensen, has been making some significant moves in the cryptocurrency market, selling Lido DAO tokens and purchasing Maker tokens in what appears to be a calculated repositioning of his cryptocurrency portfolio.
According to reports, Rune sold 760,000 LDO tokens worth $1.9 million and bought 2,788 MKR tokens worth $2.62 million on the night of March 5th, 2023. It follows a sale of 1.43 million LDO and a purchase of 4,171 MKR just four days prior.
BitcoinEmber, a cryptocurrency analytics firm, has been closely tracking Rune’s activity in the market. Their data shows that since November 4th, 2022, Rune has sold 11.378 million LDO tokens and bought 24,620 MKR tokens, with an average selling price of $2.6 for LDO and an average buying price of $940 for MKR.
Rune’s purchases of MKR tokens were made through 0x and bring his total holdings of MKR to 108,893 tokens, worth approximately $100 million and accounting for 11% of the total MKR tokens in circulation.
However, Rune’s recent moves suggest confidence in the future of MakerDAO and the wider cryptocurrency market. By selling LDO and buying MKR, he may be repositioning his cryptocurrency holdings to take advantage of market trends.
Maker (MKR) Leads Impressive Market Uptrend in 2023
The year 2023 has begun with a bang. After a prolonged period of uncertainty and low prices, the market has finally begun to show signs of life. The past few weeks have been particularly exciting for investors, as some coins have been performing exceptionally well. One of these is Maker (MKR), which has been leading the charge with its impressive price increases.
Over the last month, Maker (MKR) has seen a substantial rise in its price, growing by a staggering 34.0%. This growth has been driven by the overall market uptrend, which has seen many cryptocurrencies experience significant gains. However, Maker (MKR) has been particularly successful, outperforming many of its peers.
In fact, even during the recent bearish trend in the market, Maker (MKR) managed to make impressive gains. As reported by TronWeekly, Maker (MKR) emerged as the weekly gainer, experiencing a noteworthy 26% growth in the weekly chart. This is a significant achievement, considering the challenging conditions that many other cryptocurrencies faced during this period.
As of now, Maker (MKR) is trading at $930.35, showing a 2.59% increase in the past 24 hours and an impressive 20% increase in the weekly chart. Moreover, there has been a notable 88.93% surge in the 24-hour trading volume, which indicates a high level of investor interest and confidence in the cryptocurrency.