Whales dominate DeFi with $32.9M profit in 21 days

In recent weeks, whales have been actively accumulating DeFi tokens on Binance, leading to a significant profit of $32.9 million in just 21 days.

This aggressive accumulation includes tokens like Uniswap (CRYPTO:UNI), Maker (CRYPTO:MKR), and Bounce (CRYPTO:AUCTION), with notable purchases by whale wallets such as "0xace" and "0xEc1".

The whale activity is part of a broader trend where these deep-pocketed traders are increasingly investing in DeFi, contributing to a surge in decentralised exchange (DEX) volumes.

BNB Chain's PancakeSwap (CRYPTO:CAKE) has been at the forefront, recording a trading volume of $1.558 billion in the past day, surpassing Ethereum and Solana.

The rise in DEX volumes is also driven by meme coins like Mubarak (CRYPTO:MUBARAK), which saw its value increase by over 294% in a short period.

This surge in activity reflects growing interest in DeFi and decentralised trading platforms.

Whales have been accumulating other altcoins as well, such as Aave (CRYPTO:AAVE) and Ondo (CRYPTO:ONDO), indicating bullish sentiment in the market.

The accumulation of these tokens often precedes price rallies, as seen with AAVE's recent 14% increase.

As DeFi continues to attract significant investment, platforms like Mutuum Finance are gaining traction with their innovative lending models and smart contracts.

This trend suggests that whales are positioning themselves for potential future gains in the DeFi sector.

Overall, the recent accumulation of DeFi tokens by whales highlights a growing confidence in decentralised finance, with significant profits and increased activity across major DEXs.