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Genesis Trading unexpectedly "bottomed out" $ETH by selling $MKR – A signal for a new strategy?
Just about an hour ago, Genesis Trading's wallet executed a series of notable transactions by swapping 607 MKR for ETH at a price of around 1,500u/ETH, equivalent to a total value of approximately 697,000 USD.
What is particularly interesting is that this amount of MKR was previously accumulated by Genesis between February 9 and 12 at an average price of only about 1,000 USD. This means that this organization has taken a profit on MKR of more than 15% just to bottom out ETH.
This move has led many to question: Could it be that #Genesis is betting that ETH will outperform MKR in the near future? Or is this simply a strategic move in their investment portfolio?
#bullish
Just about an hour ago, Genesis Trading's wallet executed a series of notable transactions by swapping 607 MKR for ETH at a price of around 1,500u/ETH, equivalent to a total value of approximately 697,000 USD.
What is particularly interesting is that this amount of MKR was previously accumulated by Genesis between February 9 and 12 at an average price of only about 1,000 USD. This means that this organization has taken a profit on MKR of more than 15% just to bottom out ETH.
This move has led many to question: Could it be that #Genesis is betting that ETH will outperform MKR in the near future? Or is this simply a strategic move in their investment portfolio?
#bullish