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Analysis

MakerDAO Founder Exchanges 215,000 DAI For 211.61 MKR Again, Price Surges

August 29, 2023 - Around 2 mins mins to read

Key Points:

  • MakerDAO founder Rune Christensen has been buying MKR recently, with 409.06 MKR purchased in the past four days.
  • The purchases were made at an average price of $1,015, amounting to $415K.
  • Typically, there was a pump following each of Christensen’s purchases.
MakerDAO founder Rune Christensen made MKR purchases with 409.06 MKR bought over the past four days at an average price of $1,015, amounting to $415K. Pump usually follows each purchase.
MakerDAO Founder Exchanges 215,000 DAI For 211.61 MKR Again, Price Surges

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.

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.

MakerDAO Founder Exchanges 215,000 DAI For 211.61 MKR Again, Price Surges
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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Author

Thana

I am a news editor at Coincu, where I produce daily editorial packages and manage the knowledge and review article sections. Before journalism, I earned a Bachelor's degree in Global Logistics and Supply Chain Management from Northampton University and studied news journalism at Press Association Training.