Anchorage Digital, a prominent crypto bank, has recently caught the attention of the market as it has been accumulating a significant amount of a decentralized finance (DeFi) altcoin. According to Lookonchain, a leading blockchain tracking firm, Anchorage Digital has utilized 13 wallets over the past month to amass over $49.4 million worth of MKR, which is the native token for the DeFi protocol Maker.

Recent data from Lookonchain reveals that Anchorage Digital made its most recent purchases on Monday, using two newly created wallets to acquire $6.28 million worth of MKR from Binance. This sudden surge in MKR accumulation has sparked interest in the market.

At the time of writing, MKR is trading at $2,816, experiencing a 1.4% decline in the last 24 hours. Despite this dip, Anchorage Digital’s strategic move to accumulate MKR suggests a bullish outlook for the altcoin.

In addition to Anchorage Digital’s activity, Lookonchain also identified a shrewd and well-funded investor who made a quick profit of $3 million by purchasing a substantial amount of Bitcoin (BTC) during last week’s market correction. This investor capitalized on the dip in BTC’s price, which fell to the high $50,000 range.

Lookonchain highlighted this investor’s successful strategy, stating, “Make more than $3 million in just four days! The whale who bought BTC at the bottom [on May 3rd] deposited 767 BTC ($48.46 million) to Binance for profit [on May 6th]. After the market dropped, he withdrew 767 BTC ($45.44 million) at $59,226 BTC from Coinbase on May 3.”

The current trading price of Bitcoin stands at $62,395, experiencing a 1.6% decrease in the last 24 hours. Despite this recent decline, Bitcoin remains a highly valued and sought-after asset in the market.

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