Wallet 0x630 (likely BlockTower Capital) just further swapped 311 ETH ($1M) for 342.4 MKR via Cow Protocol at $2,920:

• transaction: 0xeba512844e1d6245a2a159470fb320d61515e732af858aebedc8fa617c410459
• address: 0x6308a45e861b7bed353e821469a1b4c26c613243
• This address may belong to the entity BlockTower Capital

Notably, wallet 0x630 just received the ETH for the swap from the better-known wallet 0x58f of BlockTower Capital, and thus, likely belongs to the VC.

• funding address: 0x58f5f0684c381fcfc203d77b2bba468ebb29b098

Overall, BlockTower Capital is allegedly gaining an estimated profit of around $11.2M from MKR:

• has accumulated 17,114 MKR (most of their tokens) via various CEX, such as Binance, Kraken, Coinbase, and DEX at $1,276 on average (estimated cost: $21.84M) since March 17, 2020;
• has allegedly sold 10,126 MKR via the above CEX and DEX at $1,310 on average ($13.26M) since May 19, 2020, realizing $341K (+2.64%) in profit;
• now still holds 7,572 MKR ($21.8M), with another $10.89M in unrealized profit.

The MKR price dropped 14.73% in the past 24 hours, as affected by the board market downturn.

Fig 1. BlockTower Capital allegedly bought 342.4 MKR ($1M) at the local bottom just now.

Fig 2. BlockTower Capital's alleged overall MKR trading history.