The Giant Whale, Opening a Trade for the First Time, Made a Large Purchase of These Two Altcoins from Binance

According to the latest onchain data, a newly created whale wallet, cryptocurrency The exchange withdrew millions of dollars worth of altcoins from Binance within an hour.

5 million worth $3.5 million Storj (STORJ) and worth $4.3 million AAVE Since the towing whale purchased these tokens from a central exchange, it is unknown at what price level he purchased them.

However, on the other hand, a malicious whale YFI It is estimated that it caused a sudden drop in price. Its market value of approximately $250 million was later destroyed.

96.3% (approximately $60 million) of YFI open positions on the decentralized exchange dYdX were liquidated. While YFI is normally very rarely traded on dYdX, the recent increase in its price has seen open interest reach approximately $62 million.

dYdX founder Antonio Juliano, in his statement, argued that the price drop was due to the manipulation of a malicious person and announced that “excessively profitable trades” were banned on the platform.

The whale had managed to withdraw a large amount of USDC from dYdX just before the price drop. He also attempted an unsuccessful attack on the dYdX SUSHI market two weeks ago.

*This is not investment advice.