$50M Transfer From Whale to Binance: Bought This Altcoin!

When the on-chain data is examined, a giant whale cryptocurrency exchange Binance, in the first place yesterday, approximately $ 30.73 million USDC appears to have transferred.

Whale Account Moves Stablecoins to Binance and Buys Ethereum

With these funds, Whale has 14,683 units worth approximately $26 million today. Ethereum bought the token and moved it to his wallet.

After this move, the whale account re-transferred stablecoin to Binance and moved $19.68 million USDT to the cryptocurrency exchange. Thus, the whale wallet in question moved a total of approximately $ 50 million to the cryptocurrency exchange.

However, when the crypto money wallet of the whale in question is examined, it is seen that there are approximately $ 30 million in other altcoins in its wallet. Of these, $29.9 million consists of Aave Interest Bearing WETH, which represents Ethereum tokens on the Aave platform.

The whale wallet also contains $136,000 in CRV and a negligible amount of Staked Aave.

Whale is a term commonly used in the cryptocurrency market to refer to individuals or institutions that hold large amounts of a particular cryptocurrency or multiple cryptocurrencies. These whales often have the power to influence the market with their trading activities because the large trades they make can have a significant impact on prices.

Also, the motivations behind a whale’s actions may not always be clear and can range from profit seeking to long-term investment strategies.

*Not investment advice.

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