In a recent incident, a well-known whale trader known by the short address 0xfc9 made significant portfolio adjustments on Coinbase, one of the leading cryptocurrency exchanges. Amid significant market fluctuations, the trader deposited 750,000 Render (RNDR) tokens worth approximately $3.01 million and then withdrew 450,000 Lido DAO coins (LDO) worth approximately $1.5 million.
Balina traded with LDO coins and them
The investor’s strategic move included a major investment of $3.01 million in Render (RNDR). However, the RNDR market fell 11% in the 24 hours following the transaction. Despite the price drop, the whale trader has shown confidence in his decision by strategically manipulating market dynamics. This move signals a calculated risk-taking approach amid ongoing volatility in the crypto space. It is worth noting that such significant transactions can have a ripple effect on the market, influencing sentiment and potentially contributing to further price volatility.
Following the RNDR investment, the whale withdrew approximately $1.5 million worth of Lido DAO Token (LDO), benefiting from the coin’s 13% price increase during the same period. This quick maneuver reveals the investor’s ability to adapt to market conditions and optimize his portfolio by taking advantage of favorable price movements. The LDO coin retracement sheds light on various investment tactics in the cryptocurrency market, adding an intriguing layer to the overall strategy used by the whale. In addition to RNDR and LDO trades, the trader made an estimated total profit of $8.95 million from trading nine tokens, including Fetch.ai (FET), Aave (AAVE), Enjin Coin (ENJ), Chainlink (LINK) and others .
Wintermute transferred ARB to OKX
In other news, on January 6, on-chain data analyst @ai_9684xtpa reported that the Wintermute address transferred 3.8 million ARB to OKX in the last 24 hours. Wintermute transferred a total of 24.33 million ARB (approximately $46.8 million) to the trading platform in the previous three days and held 37.42 million tokens. On the same day, according to @ai_9684xtpa’s tracking, the address starting with 0xfc4 transferred 8,700 ETH (approximately $19.6 million) from Binance to OKX hours earlier. If they were all sold, the profit would be as high as $1.58 million.
In addition to RNDR and LDO transactions on Coinbase, Wintermute and the 0xfc4 address have made notable moves across exchanges, further shaping the narrative of the cryptocurrency market. The complex moves of these important players are critical. Because it highlights the crypto space where strategic decisions can have far-reaching impacts.
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