The cryptocurrency market has witnessed active participation of whales (large investors) in the last 24 hours. On-chain data shows that whales are making significant transactions in both major currencies such as Bitcoin and Ethereum, as well as smaller altcoins such as ONDO coin. This mobility may cause market fluctuations and price changes.
Chain sale, Ethereum purchase and ONDO coin investment: What happened?
The whale named 0x8036 took action. Whale purchased $5.7 million worth of Ethereum on the Gemini exchange. He converted all the ETH he purchased into Ondo (ONDO) token. He purchased approximately 6 million ONDO tokens at an average price of $0.95. It is possible to make a profit on ONDO, which is trading at $0.93 at the time of writing. On the other hand, the whale named Roosh sold Chainlink (LINK) for $ 2.78 million. Following the sale, there was an 18% increase in the LINK price. If the whale had waited a little longer, it could have made an additional profit of $497.
Great movement in ARB and these 4 altcoins
Venture capital firm Spartan Group transferred $5 million worth of altcoins to Coinbase. GAL sent altcoins such as C98, 1inch, and MPL to Coinbase. The company currently has a cryptocurrency portfolio of $74 million. His biggest investment is in the BEAM token.
On the other hand, according to Lookonchain’s tweet, a whale address has taken action. This whale bought Arbitrum (ARB) for $4.17 million 12 hours ago. This whale has been trading with ARB since July 2023 and has purchased ARB worth $39 million in total. Whale made these purchases at an average price of $1.25. He sold the $37.5 million ARB at an average price of $1.2 and lost more than $2 million. It currently holds an ARB of $5.98 million ($6.15 million).
What are whale strategies?
These examples show how active and influential whales are in the market. Whales buying and selling large amounts of cryptocurrencies can cause significant fluctuations in prices. It is important for investors to follow such movements and make informed investment decisions. Whales generally prefer to invest for the long term and benefit from market fluctuations. Therefore, they can buy large amounts of cryptocurrencies during periods when prices are low and sell them to make a profit during periods when prices rise.
As Kriptokoin.com reported, whales buying and selling large amounts of cryptocurrencies can cause sudden changes in prices. This may reduce liquidity and pose risks to other investors. Various platforms exist to track whales’ transactions. These platforms provide data showing which cryptocurrencies whales are buying and selling. Using this data, investors can follow the trends followed by whales and create their investment strategies accordingly.
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