The cryptocurrency market witnessed significant whaling activity on Sunday, March 10, 2024, with several large investors depositing tokens on leading exchange Binance. This signaled a potential profit-taking spree or strategic positioning in the RNDR coin and others.
ARB profits received
According to Spot On Chain tracking, two whale addresses, one starting with 0x141 and the other with 0xc99, deposited a total of 2.77 million ARB tokens (approximately $5.94 million) to Binance approximately 14 hours ago. This transaction shows the whales making a significant profit, estimated at $3.29 million.
Big comeback from ARKM whale
On-chain analyst Ember has uncovered another whale activity involving ARKM tokens. This whale transferred 400,000 ARKM ($1.46 million) to Binance 6 hours ago. cryptokoin.com As we reported, it is noteworthy that the whale withdrew 1 million ARKM from Binance at a price of $0.61 72 days ago (December 28, 2023). In subsequent transactions, the transfer of 200,000 ARKM back to Binance at $0.68 24 days ago (February 15, 2024) was also critical.
Balina then invested 400,000 ARKM today. Today, it was transferred at a much higher price of $3.67. This series of actions represents a potential profit, as the whale currently holds 400,000 ARKM ($1.46 million) and the estimated realized and unrealized gain on ARKM has reached $2.46 million, reflecting a staggering 403% increase. It indicates a buying strategy.
RNDR coin whales benefit from AI rise
Independent monitoring by @ai_9684xtpa detected another whale depositing a significant amount of RNDR tokens to Binance in the last 12 hours. The whale address, starting with 0x551, transferred a total of 250,000 RNDR, worth approximately $3.05 million. If Whale decides to sell the entire RNDR invested, he will make a profit of $1.07 million. Interestingly, the whale still has another 500,000 RNDR tokens. The recent surge in the AI sector has increased the whale’s unrealized gains on the remaining asset to an estimated $2.14 million.
Finally, @ai_9684xtpa’s monitoring also detected activity by DWF Labs, which transferred 250,000 PORTAL tokens to Binance approximately 30 minutes before today’s market close on March 9, 2024. The amount of the transfer was approximately $620,000 and the price per token was hovering around $2.49 at the time.
While the specific reasons behind these whale movements remain unclear, the heavy influx of tokens into Binance could indicate profit-taking or strategic repositioning in the cryptocurrency market. Investors should remain vigilant and monitor further developments, especially regarding potential price fluctuations of the relevant tokens (ARB, ARKM, RNDR and PORTAL).
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