The cryptocurrency market is having active days this weekend. Follow-up by Onchain data analysts revealed the interest and recent transactions of whales and smart money investors in different cryptocurrencies. This activity both fuels speculation in the market and stands out as developments that investors follow carefully. Here are the moves towards cryptocurrencies such as MKR coin and JASMY…
Arthur Hayes hoards PENDLE, DWF Labs sells Jasmy
First of all, BitMEX Founder Arthur Hayes continues his PENDLE accumulation. According to findings by on chain data analyst Yu Jin, BitMEX founder Arthur Hayes transferred another 100,000 PENDLE via Binance on June 1. This transaction is considered part of Hayes’ regular purchases of PENDLE through Binance and Wintermute since last June. It is currently stated that Hayes’ total PENDLE holdings are 1,655,697 units and are worth approximately $10.21 million. While Hayes’ average purchase price was around $2.27, his profit exceeded $6.45 million, indicating a return of 171%. This suggests that Hayes has strong confidence in PENDLE and expectations of price increases.
On the other hand, DWF Labs attracts attention with its JASMY transfers. In another important development, on-chain data analyst @ai_9684xtpa detected that DWF Labs transferred 35 million JASMY to Binance on June 1. The value of this transfer is approximately 1.26 million US dollars. Although the reason for this move by DWF Labs is not yet clear, it is expected to contribute to the activity in the JASMY market.
140x gain came with PEW
Additionally, a mysterious investor made a 140-fold profit in 4 days with PEW. The follow-up of Lookonchain caused confusion in the cryptocurrency market with the transaction made by an unidentified investor on June 1. This investor purchased 27.05 billion PEW for 3.2 ETH (approximately $12,300). In just 4 days, he sold 8.05 billion PEW for 83.5 ETH (approximately $315,000), making a 140-fold profit. The investor currently holds PEW 19 billion (approximately $1.42 million). It is stated that this event is considered as an example of the high returns that investors who make the right moves in the market at the right time can obtain.
MKR coin and Ethereum moves attracted attention
Maker continues to sell MKR coins. According to data analyst Yu Jin’s observations, the multi-signature address starting with 0xbba, marked by Nansen as belonging to Maker, sold 13,138 MKR (about $37.95 million) through Wintermute in the last month and a half. The average sales price of the address, which has sold a total of 19,743 MKR (approximately 59.77 million dollars) since March 18, was around 3027 dollars. The address, which currently still costs 11,228 MKR (approximately $30.35 million), is estimated to complete sales in about a month and a half, based on the current course. The reason for Maker’s sales is not yet known. However, it is interpreted as a move that may affect the supply-demand balance in the market.
Finally, on May 31, according to Scopescan’s findings, an unidentified large investor withdrew 4,200 ETH (approximately $15.8 million) from Binance. This investor attracted attention by accumulating 8,300 ETH (approximately $31 million) in just 3 days. It is also possible that this move of the whale can be interpreted as preparation for a possible rise in the Ethereum price.
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