Large Whale Purchases 1474 WBTC Amid Market Changes

8/16/2024 3:17:38 AM

According to @ai_9684xtpa, a large whale or institution with the address 0x50f...4bF21 bought 1474 WBTC worth $84.03 million from Galaxy Digital OTC seven hours ago. This purchase comes at a time when WBTC is significantly affected by a 'custody change.' MakerDAO has passed and executed a proposal to reduce the WBTC collateral scale, indicating that WBTC's largest backer no longer supports its use in the DeFi ecosystem. (Source)

DeFi WBTC Galaxy Digital MakerDAO custody change

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