The Fall in Bitcoin Stimulated the Altcoin Whales: Here are the Buyers, Sellers, Losers and Their Chosen Altcoins!
Release: 2024/06/10 19:22 Reading: 525
Bitcoin Volatility Spurs Whale Activity
Recent market volatility in Bitcoin has sparked whale trading. Whales have exhibited varying strategies, with some seizing buying opportunities during the downturn, while others have cashed in on the rise.
Whales Acquire UNI, BLZ, PEPE, and TRB
As BTC breached $71,000 last week, altcoins surged. However, their fortunes reversed as BTC dipped below $69,000.
Newly created whale wallets have recently purchased UNI, BLZ, PEPE, and TRB from Binance and OKX, according to Lookonchain. Among these transactions:
- 0x3492 withdrew 870,827 UNI ($8.5 million) from OKX.
- 0xe841 withdrew 7.69 million BLZ ($2.16 million) from Binance.
- 0x81cC and 0xf226 acquired 303.4 billion PEPE ($3.8 million) from Binance and OKX.
- 0x8499 purchased 20,628 TRB ($1.9 million) from Binance.
Sleeping Whale Profits from MKR and AAVE
Spot On Chain reports that a once-dormant altcoin whale has woken and deposited 3,800 MKR ($9.3 million) and 20,000 AAVE ($4.45 million) on Binance for sale.
If sold at current prices, the whale could realize a profit of $6.86 million (+281%) on MKR and $645k (+17%) on AAVE.
Unlucky Whale Sells ENA at a Loss
An unfortunate whale attempted to time the market, buying ENA (ETHENA) during a downturn. However, the whale missed the ideal selling point and sold at a loss after the recent price drop.
The whale had previously acquired various altcoins ahead of market rallies, but their timing proved unsuccessful in this instance.
*Disclaimer: This article does not provide investment advice.
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