As the bitcoin and altcoin market continues to fluctuate, some major players are making moves that have caught the attention of analysts and investors. Here are the details of the three big transactions that took place on April 24…
Altcoin ARB leaves whale wallets
cryptocoin.com As we reported, some of the 17 ARB whale addresses cleared their positions at a high level after the ARB price experienced a minor rebound, according to statistics from Ember, an on-chain analyst. Of the 17 addresses, 6 were selling, and 4 of these addresses have already sold all of their assets. Meanwhile, 3 whale addresses increased their ARB positions and 8 addresses did not make any changes. This means that these whales have collectively reduced their ARB holdings by about a third during this rally. This news highlights that even big investors are wary of the current volatility in the market and are taking steps to protect their investments.
The address, which has been inactive for 2 years, has taken action
Another interesting development on April 24 was the transfer of 50 million GALA to Coinbase from a giant whale address that started with 0x3bf after being inactive for 2 years. According to data analytics platform Spot On Chain, this transaction averaged $0.041, which represents a significant increase from the average purchase price of $0.003 in September 2020. The estimated profit from this transaction is around $1.9 million, which is a significant return on investment. It is important for the GALA market that this whale address has been dormant for two years and has chosen to do so now.
Giant MATIC whale transfers coins to Binance
Finally, the Whale Alert platform reported that a giant whale address starting with 0x46e transferred 60 million MATIC (about $59.47 million) to Binance. This move may indicate that the whale address wants to turn some of its assets into cash or make a different investment in the cryptocurrency market. It’s unclear whether this transaction is indicative of a broader trend among major investors, but it’s definitely something to consider.
Overall, these transactions may indicate the ongoing volatility and uncertainty in the cryptocurrency market. Even large investors are taking steps to protect their investments and making strategic moves in response to market conditions. As always, it’s important for individual investors to stay informed and make careful decisions based on their own risk tolerance and investment goals.
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