In the early hours of October 10, BlockTower Capital made a significant financial move by selling 1,815 MKR tokens, worth $2.48 million, through Galaxy Digital.
This transaction marks the continuation of BlockTower’s gradual sale of its MKR holdings, which has been ongoing for nearly a year.
Between May and November 2022, BlockTower withdrew 12,502 MKR from major centralized exchanges (CEXs) such as Coinbase, FTX, and Kraken, at an average price of $1,055.
The investment institution began selling its MKR holdings in December 2023 and has since sold a total of 7,664 MKR, valued at $11.62 million, over the past 10 months. With an average sale price of $1,516, the firm has generated a profit of approximately $3.53 million from these transactions.
7 小时前，投资机构 @BlockTower 通过 Galaxy Digital 出售了 1,815 枚 MKR ($2.48M)。
◎BlockTower Capital 是在 2022/5-11 月期间从 Coinbase/FTX/Kraken 等 CEX 提出 12,502 MKR，均价 $1,055。
◎然后他们是从去年 12 月开始出售 MKR，到目前 10 个月时间一共出售了 7,664 枚 MKR… https://t.co/CLwP6XF11M pic.twitter.com/qpVEbvGxlP
— 余烬 (@EmberCN) October 10, 2024
BlockTower Capital, Despite Selling Off MKR, Still Holds Some Position
As of now, BlockTower Capital retains 7,662 MKR, currently valued at $10.37 million. However, it appears the firm is shifting its investment strategy by reallocating funds into EIGEN. After selling 1,815 MKR through Galaxy Digital, BlockTower received 653,000 EIGEN tokens, worth $2.38 million, from a Wintermute address just 10 hours after the sale. This suggests that the institution likely sold MKR to acquire EIGEN, with the purchase price averaging $3.65 per EIGEN token.
BlockTower Capital 应该是将卖出 MKR 的资金买入了 EIGEN。
BlockTower 昨天将 1,815 枚 MKR 通过 Galaxy Digital 出售后，在 10 小时前从 Wintermute 地址接收到 65.3 万枚 EIGEN ($2.38M)。
他们很可能是将 MKR 售出后通过 Wintermute 买成了 EIGEN，这样的话，他们的 EIGEN 购买成本在 $3.65。… https://t.co/GPbQqwMapQ pic.twitter.com/DvGk3LtY1j
— 余烬 (@EmberCN) October 11, 2024
This strategic reallocation of assets indicates that BlockTower Capital is bullish on EIGEN, a growing player in the blockchain space, as they diversify their portfolio. As the firm continues to adjust its holdings, it remains to be seen how this shift will impact its overall investment strategy in the long term.
Disclosure: This is not trading or investment advice. Always do your research before buying any cryptocurrency or investing in any services.
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