Bitcoin and altcoins are once again facing a sell-off. This selling pressure has pushed BTC back below $82,000, while Ethereum has fallen to around $2,400. This has also affected altcoins, and the resulting volatility has reshaped investors’ risk appetite. Transfers made by whale wallets have also attracted attention.
According to Lookonchain, a cryptocurrency analytics platform, an anonymous whale, believed to be an institutional investor, sold Bitcoin and bought ETH. Specifically, the mysterious whale sold 246.25 BTC (20.64M) and then purchased 8.286 ETH (20.64M).
This whale sold a total of 1,917.7 BTC (159M) and bought 64,545 ETH (155M) in the last 11 days.
According to Lookonchain, another whale bought approximately $7.22 million worth of ETH and eight altcoins in the last 24 hours.
According to the data, the altcoins he acquired were listed as follows: “378,129 LIT (approximately $1.4 million), 6.61 million ENA (approximately $1.34 million), 3 million ONDO (approximately $1.34 million), 1.154 million AERO (approximately $948,000), 241.8 million ETH (approximately $591,000), 2.944 million QNT (approximately $589,000), 61.252 million UNI (approximately $443,000), 1.387 million TAO (approximately $368,000), and 43.3 billion PEPE (approximately $195,000).”
According to Lookonchain, whales are accumulating ETH. Whale address “0x4A85” withdrew 10,954 ETH ($26.97 million) from Kraken and staked it after 4 months of inactivity. Whale address “0xdeA6” withdrew 9,000 ETH ($22.42 million) from Binance and deposited it into Aave. Whale address “0xD338” withdrew 4,500 ETH ($11.29 million) from Binance.
Meanwhile, whales continue to accumulate BTC. According to Lookonchain, four more newly created wallets have received 1,127 BTC ($93.45 million) from Wintermute.
Whale wallets are also trading in MAGMA, an altcoin that surged over 70% today. Accordingly, two wallets opened 2x long positions on 1.5M MAGMA (775K) via Aster and currently have $340,000 in unrealized profits.
*This is not investment advice.
Continue Reading: Big Movement in Bitcoin (BTC) and Altcoins! Whales Made Multi-Million Dollar Transactions: Here Are Their Preferred Altcoins!