{"id":25381,"date":"2024-07-19T20:00:48","date_gmt":"2024-07-19T17:00:48","guid":{"rendered":"https:\/\/coinengineer.io\/?p=25381"},"modified":"2024-07-19T10:36:49","modified_gmt":"2024-07-19T07:36:49","slug":"institutional-whales-dumped-millions-in-three-altcoins-including-avax","status":"publish","type":"post","link":"https:\/\/coinengineer.net\/blog\/institutional-whales-dumped-millions-in-three-altcoins-including-avax\/","title":{"rendered":"Institutional Whales Dumped Millions in Three Altcoins Including AVAX!"},"content":{"rendered":"<p>While some investors are buying dips in Bitcoin and altcoins, other investors are making significant sales by taking advantage of the recent rally.<\/p>\n<p><strong>Placeholder Makes Huge Profits from MKR and UMA<\/strong><\/p>\n<p>In this regard, venture capital firm Placeholder invested $32 million in Maker (MKR) and UMA to <a href=\"https:\/\/coinengineer.net\/blog\/blockfi-to-begin-crypto-payments-via-coinbase\/\">Coinbase<\/a>.<\/p>\n<p>According to blockchain data analysis platform Spot On Chain, Placeholder invested $20.9 million worth of 7,250 MKR and $11.9 million worth of 5 million UMA in Coinbase during the day.<\/p>\n<p>Placeholder was an early investor in both MKR and UMA, buying MKR at an average price of $765 and UMA at $0.382.<\/p>\n<p>Comparing the buying prices with the selling prices, Placeholder made a 4x profit on MKR and a 12x profit on UMA.<\/p>\n<p><strong>Galaxy Digital Sells Avalanche (AVAX)<\/strong><\/p>\n<p>Apart from Placeholder, Galaxy Digital also sold altcoins. According to blockchain analyst The Data Nerd, Galaxy Digital deposited $2.93 million worth of Avalanche (AVAX) to Binance.<\/p>\n<p>Accordingly, Galaxy Digital deposited approximately 105,000 AVAX (2.93 million ) from its over-the-counter (OTC) wallet to Binance.<\/p>\n<p>As a result of the sales, the prices of MKR, UMA, and AVAX fell.<\/p>\n<div>\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<div class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">\n<p class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><em class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Also, you can freely share your thoughts and comments about the topic in the comment section. Additionally, please follow us on our\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/t.me\/coinengineernews\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Telegram<\/strong>,\u00a0<\/a><a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/www.youtube.com\/@CoinEngineer\" target=\"_blank\" rel=\"noreferrer noopener nofollow\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">YouTube<\/strong><\/a>\u00a0and\u00a0<a class=\"darkmysite_style_txt_border darkmysite_style_link darkmysite_processed\" href=\"https:\/\/twitter.com\/coinengineers\" target=\"_blank\" rel=\"nofollow noopener\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\"><strong class=\"darkmysite_style_txt_border darkmysite_processed\" data-darkmysite_alpha_bg=\"rgba(0, 0, 0, 0)\">Twitter<\/strong><\/a>\u00a0channels for the latest\u00a0<a title=\"News\" href=\"https:\/\/coinengineer.net\/blog\/news\/\" data-internallinksmanager029f6b8e52c=\"7\">news<\/a>\u00a0and updates.<\/em><\/p>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"kk-star-ratings kksr-auto kksr-align-center kksr-valign-bottom\" data-payload=\"{&quot;align&quot;:&quot;center&quot;,&quot;id&quot;:&quot;9165&quot;,&quot;slug&quot;:&quot;default&quot;,&quot;valign&quot;:&quot;bottom&quot;,&quot;ignore&quot;:&quot;&quot;,&quot;reference&quot;:&quot;auto&quot;,&quot;class&quot;:&quot;&quot;,&quot;count&quot;:&quot;0&quot;,&quot;legendonly&quot;:&quot;&quot;,&quot;readonly&quot;:&quot;&quot;,&quot;score&quot;:&quot;0&quot;,&quot;starsonly&quot;:&quot;&quot;,&quot;best&quot;:&quot;5&quot;,&quot;gap&quot;:&quot;5&quot;,&quot;greet&quot;:&quot;Rate this post&quot;,&quot;legend&quot;:&quot;0\\\/5 - (0 votes)&quot;,&quot;size&quot;:&quot;24&quot;,&quot;title&quot;:&quot;Mittaria: Way To Gods \u2013 The Divine Dimension&quot;,&quot;width&quot;:&quot;0&quot;,&quot;_legend&quot;:&quot;{score}\\\/{best} - ({count} {votes})&quot;,&quot;font_factor&quot;:&quot;1.25&quot;}\">\n<div class=\"kksr-stars\">\n<div class=\"kksr-stars-inactive\">\n<div class=\"kksr-star\" data-star=\"1\"><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>While some investors are buying dips in Bitcoin and altcoins, other investors are making significant sales by taking advantage of the recent rally. Placeholder Makes Huge Profits from MKR and UMA In this regard, venture capital firm Placeholder invested $32 million in Maker (MKR) and UMA to Coinbase. According to blockchain data analysis platform Spot<\/p>\n","protected":false},"author":1,"featured_media":7961,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[563,272,61,192,151,493,501,2703,2197,3884,2540,396,7332,2570,4941],"class_list":["post-25381","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-crypto-news","tag-altcoins","tag-avax","tag-bitcoin","tag-blockchain","tag-coinbase","tag-galaxy-digital","tag-investment","tag-market","tag-mkr","tag-placeholder","tag-prices","tag-profit","tag-sales","tag-uma","tag-venture-capital"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v22.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Institutional Whales Dumped Millions in Three Altcoins Including AVAX! - Coin Engineer<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/coinengineer.net\/blog\/institutional-whales-dumped-millions-in-three-altcoins-including-avax\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Institutional Whales Dumped Millions in Three Altcoins Including AVAX! - Coin Engineer\" \/>\n<meta property=\"og:description\" content=\"While some investors are buying dips in Bitcoin and altcoins, other investors are making significant sales by taking advantage of the recent rally. Placeholder Makes Huge Profits from MKR and UMA In this regard, venture capital firm Placeholder invested $32 million in Maker (MKR) and UMA to Coinbase. 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