Crypto whales and investors are rapidly accumulating an Ethereum (ETH)-based exchange altcoin, according to on-chain data. Blockchain tracking service Lookonchain launched Tuesday, a decentralized perpetual trading platform for three deep-pocketed investors. GMX (GMX) brings together 69,919 of its local presence says.
The estimated total value of the acquisitions at the time was $5 million.
“Whales and Smart Coins are accumulating tokens!
Today we noticed that two whales and a Smart Coin bought a total of 69,919 GMX ($5 million).”
NEWS CONTINUES BELOW
one of three buyers crypto- whale made the largest purchase, collecting more than 52,000 tokens. Whale had previously made a large purchase of 14,117 GMX on March 21.
“Whale ‘0x9a76’ bought 52,159 GMX for $2,192 ETH ($3.76 million) for $72 today. On March 21, he bought 14,117 GMX for 636 ETH ($1.15 million) for $82.”
NEWS CONTINUES BELOW
According to Lookonchain, the second largest token buyer on Tuesday received 14,766 tokens for $68.
“Whale “0x7aff” bought 14,766 altcoins for 585.5 ETH ($1 million) today at a price of $68. He bought 5,310 GMX ($359,000) from Binance on March 13, when the GMX price was $68.”
The third investor received 2,993 tokens while GMX was trading at $67.
Lookonchain states that the investor has a model of buying GMX at a low value and selling at a higher value, and highlights three GMX transactions at other times.
“A Smart Coin that always buys GMX at low value and sells at high value today bought 2,993 GMX at 200K USDC at $67.
As Koinfinans.com reported, GMX is trading at $81.28 at the time of this writing.
Lookonchain reported in February that BitMEX founder Arthur Hayes had purchased hundreds of thousands of GMX tokens last year, making more than $8 million in profits at the time.