The cryptocurrency market seems to be shaken by various events these days, at a time when the US government is developing new sanctions actions against the sector. In another notable development, it was revealed that an unknown Bitcoin address was selling 636 BTC worth $23.46 million before the US Department of Justice announced major crypto sanctions. This development once again revealed the complexity and speed of the events taking place in the cryptocurrency world. Here are the details…
Analysis firm Lookonchain to what you stated According to the report, the unknown Bitcoin address attracted attention by disposing of 636 BTC worth $ 23.46 million. This has revealed how major players in the market can react to government interventions and deal with this volatility.
Aside from this incident, the US Securities and Exchange Commission (SEC) has accused crypto exchange Kraken of operating an unregistered platform and mismanaging customer funds, while reports are circulating that the Department of Justice and Binance could reach a potential $4 billion settlement. .
Lookonchain made the following statement:
“A smart whale disposed of all 636 BTC ($23.46 million) before the US Department of Justice announced major crypto enforcement actions.
This whale made over $40 million in BTC by buying low and selling high…
NEWS CONTINUES BELOWBought 1,636 BTC ($27.77 million) from November 30, 2022 to December 17, 2022 at $16,970.
On March 8, 2023, he sold 1,636 BTC ($44.28 million) at $27,060, earning approximately $16.5 million.
From May 8 to August 21, it purchased 2,690 BTC ($74.6 million) at $27,754.
“He earned approximately $24 million by selling 2,690 BTC ($98.7 million) at $36,726 on November 17 and November 21.”
In addition, Lookonchain claimed yesterday that institutional investors are accumulating LDO, Lido’s native token. The firm found that two wallets linked to institutional crypto services companies FalconX and Amber had withdrawn LDOs from Binance multiple times.
“Institutions appear to be accumulating LDO.
0x011D (associated with Amber) withdrew 1.47 million LDO ($3.6 million) from Binance 4 hours ago; With this move, a total of 5.9 million LDO ($14.5 million) was withdrawn in the last 3 months. FalconX withdrew 1.26 million LDO ($3.1 million) from Binance 4 hours ago; “The total amount withdrawn from last week was 4.9 million LDO ($12 million).”
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