Placeholder Ventures Linked Address Deposits $32.8 Million in MKR, UMA to Coinbase

IconCryptoNewsTerminal Staff18 Jul, 2024

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Placeholder Ventures Linked Address Deposits $32.8 Million in MKR, UMA to Coinbase

Placeholder Ventures, a blockchain venture capital firm, has recently transferred 7250 MKR ($20.9 million) and 5 million UMA ($11.9 million) to Coinbase. This transaction was analyzed by cryptocurrency on-chain data analytics platform Spot On Chain. Placeholder Ventures was an early investor in both MKR and UMA. It is estimated that the firm purchased MKR at an average price of $765 and UMA at $0.382, resulting in profits of approximately 4x and 12x, respectively. This transaction indicates that Placeholder Ventures may be preparing to sell its holdings in MKR and UMA. However, it is also possible that the firm is simply moving its assets to a different exchange. Only time will tell what Placeholder Ventures' intentions are. However, this transaction is a reminder that even the most successful investors can make mistakes.

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