Whales bought $58m worth of AAVE, ETH, ARB, PEPE
Release: 2023/11/13 20:59 Reading: 505
Last week, whale addresses purchased over $58 million worth of Aave (AAVE), Ethereum (ETH), Arbitrum (ARB), and Pepe (PEPE) amid the ongoing market surge.
The significant amount of purchases signifies a series of transactions made by different large investors using various whale addresses over the past week. These significant buying activities occurred during a period of continuous upward momentum, resulting in several assets reaching their highest levels of the year.
Lookonchain, an on-chain surveillance resource, revealed in their weekly review that one of the whales made several purchases involving AAVE.
Its latest movement involved a withdrawal of 89,759 AAVE from Binance on Nov. 9. Data confirms they had withdrawn $39 million worth of AAVE from Binance in three days.
Additionally, another Ethereum whale address decided to sell its holdings in order to acquire Arbitrum and Pepe tokens. Last week, this whale purchased 2.51 million ARB and 1.65 trillion PEPE. According to Lookonchain's report, the address has already gained a profit of $339,000 from its investment in ARB and PEPE tokens.
A recently activated wallet, known as the last whale address, withdrew a total of $15 million worth of various assets from Binance within a span of seven days. The majority of this amount, valued at $3.55 million, consisted of 40,000 Illuvium (ILV) tokens. Additionally, the transactions included MKR ($3.38 million) and ETH ($3.17 million).
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Market sustains uptrend amid whale activity
In its weekly review, Lookonchain further highlighted Solana’s impressive run last week, which saw the asset rally by nearly 50% amid the sustained uptrend in the broader market. SOL’s rally endured despite FTX unstaking $230 million worth of SOL and transferring $215 million.
Tellor (TRB) experienced a significant decline of over 30% last week due to selling pressures from large investors. It is worth noting that during the week, these investors deposited a total of $17.3 million worth of TRB on Binance, further fueling concerns about a potential massive sell-off.
Several other assets, such as ORDI, OKB Coin (OKB), and Storj (STORJ), experienced significant increases in value as large investors transferred substantial amounts on the blockchain. The ORDI team deposited $14.9 million worth of the asset into Binance after it surged by 80% within a week.
Furthermore, after reaching a new record high of $63.44 on November 11th, three large addresses withdrew $14.9 million worth of OKB from Binance. Additionally, following the price increase caused by STORJ, the project team transferred $6.5 million to Binance.
Bitcoin (BTC) witnessed an 8% gain last week, towering above $37,000, while ETH surged 13% to reclaim the much-coveted $2,000 price territory. Lookonchain also called attention to the accumulation trend of a Bitcoin whale which picked up last week, leading to $536 million in BTC purchases since Jan. 17.
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