The decline in Bitcoin (BTC) and altcoins caused fear in some investors and distanced themselves from the market. However, some investors also saw the declines as a buying opportunity and accelerated their purchases.

At this point, new purchases were seen in Ethereum (ETH)-based Maker DAO (MKR), one of the favorite altcoins of whales.

According to Lookonchain’s post, whales purchased $5.63 million worth of MKR and the MKR price increased.

Accordingly, while one whale has been accumulating MKR since June 27, the other whale purchased $2 million MKR during the day.

“We recently noticed that 2 smart investors bought MKR!

0x3737 has purchased 1,465 MKR ($3.63 million worth) at an average price of $2,476 since June 27.

This whale previously bought 1.884 MKR ($2.18 million) at $1.157 and sold it at $1.406, making ~$468k.

Whale also owns 3.58T PEPE (worth $30.87 million) and has over $30 million in profits in PEPE!

0xCf9b spent 2 million USDT to buy 777 MKR at $2,587 9 hours ago.

This whale previously bought 1,575 MKR ($4.53 million) for $2,879 and sold it for $3,083, earning ~321 thousand dollars.”

While MKR has risen by over 7% in the last 24 hours, BlackRock, apart from whales, also contributed to this rise. It was stated that BlackRock will participate in the Tokenized Treasury Investment Program, which MakerDAO will launch to invest $1 billion in tokenized US Treasury bonds.

*This is not investment advice.