What do they know that we don’t? Two whale transactions spotted in the early phase of this cryptocurrency Mutuum Finance

$320K Whale Buys Highlight Early Mutuum Finance Interest

Recent on-chain monitoring has revealed two sizeable transactions executed by a whale wallet to purchase a cryptocurrency that is still in its early development phase and is preparing to launch on exchanges. Mutuum Finance Combined, the two transactions total roughly $320,000—an amount well above the typical range seen for new crypto projects at this stage.

Is this whale an insider? A conviction bet on a high-potential asset? Or simply a hedging strategy amid broader market uncertainty?

On-Chain Observations and Where the Cash Flow Went

The first transaction, worth approximately $175,000, was followed by a second transaction of $143,000 about a week later. Both were used to acquire a new cryptocurrency currently in its pre-launch phase, available at a fixed price that increases gradually over time. The project in question is Mutuum Finance, a lending and borrowing protocol that has already released V1 of its protocol on the Sepolia Testnet, which is currently available for public testing. The protocol has completed an audit by Halborn, a major Web3 auditing company.

Mutuum Finance

Mutuum Finance is a decentralized lending and borrowing protocol designed to offer smarter, more accessible liquidity management. It is currently in its pre-launch stage, which has attracted 19,000 users and raised $20.6 million through the sale of its native tokens, an ongoing process at the time of writing. The protocol operates within one of the largest verticals in decentralized finance, where total liquidity reaches $79 billion, a sector with strong utility and significant interest from both retail users and organizations.

Mutuum Finance enables users to earn passive yield by supplying crypto assets and allows borrowers to take loans by depositing collateral. Passive yield for suppliers is funded by borrowers, who pay interest on the assets they borrow.

A common question is: Why would someone borrow if they must post collateral, often worth more than the loan itself? There are several reasons, for example, a user may hold an active position in Ethereum while needing additional liquidity. Rather than selling their ETH (and potentially losing upside exposure), they can deposit it as collateral and borrow against it. Once the loan is repaid, they withdraw their ETH, preserving their exposure to any price appreciation.

Added Utility Through the MUTM Token

Mutuum Finance introduces an additional utility layer through its native token, MUTM. Users who supply assets to the protocol receive tokens that serve as proof of deposit (deposit receipts). These tokens can be used within the protocol to redeem the supplied assets. The process is fully automated, decentralized, and requires no manual actions from users.

These proof-of-deposit tokens can also be staked. While the underlying supplied assets continue generating passive yield, users who stake their deposit receipts can receive protocol dividends paid in MUTM, sourced from protocol fees. Mutuum Finance uses a portion of its fees to buy MUTM on the open market, supporting market demand, and then distributes these purchased tokens proportionally to stakers. This mechanism is designed to generate a dual passive-income stream for suppliers.

At the token level, MUTM is designed as the protocol’s core alignment asset, with a fixed maximum supply and an ERC-20 implementation on Ethereum to support broad wallet and infrastructure compatibility. Rather than relying purely on emissions, the model emphasizes utility-driven incentives: as the protocol generates revenue, a portion can be used to purchase MUTM on the open market and distribute it to eligible stakers, linking rewards to real protocol activity. In practice, this structure aims to strengthen long-term participation by rewarding users who contribute to the protocol’s growth, while supporting a sustainable incentive loop around adoption and usage.

The two whale-sized purchases, totalling roughly $320,000 within a single week, stand out as an unusually early and confident allocation for a project that has not yet reached exchange trading. While on-chain activity alone cannot confirm whether this is insider knowledge, a calculated hedge, or a high-conviction bet, it does signal that certain market participants are already positioning ahead of a broader audience.

Mutuum Finance sits at the intersection of two powerful narratives: the continued expansion of DeFi lending and the demand for more efficient, decentralized liquidity tools. With V1 already live on Sepolia for public testing, a completed Halborn audit, and a growing community, the project is entering a phase where execution milestones and transparency will matter as much as momentum.