Although the cryptocurrency market has experienced fluctuations in recent weeks, the buying and selling transactions and profitable moves of whales are remarkable. In this article, we will examine some recent important whale movements and their impact on the market. Here are the details…
Cryptocurrencies are the focus of whales
The cryptocurrency market has attracted great interest and investment in recent years. This interest has also led to an increase in large investors known as “whales” who have the power to influence the market. Whales can affect the direction of the market and the fluctuations of prices with their buying and selling transactions. The latest big buys and sells are as follows:
- MAVIA: The whale with address 0x1cb deposited 550 thousand MAVIA ($4.25 million) to the Bybit exchange. These tokens were purchased 8 days ago at an average price of $3.1035. The whale still holds 11 million MAVIA worth $8.38 million.
- LINK: The whale with address 0x771 withdrew 250 thousand LINK ($5.01 million) from Upbit. He withdrew 386.48 thousand LINK ($7.75 million) in the last 4 days. He transferred 308.39 thousand LINK ($6.19 million) to other wallets in 6 days. It currently holds 58.1k LINK worth $1.17 million.
- LRC: The whale with address 0x475 deposited 34.88 million LRC ($8.42 million) into Binance wallet number 14. Interestingly, this wallet had received the same amount of LRC from the Loopring LRC Foundation Icebox a month ago.
Bitcoin whales are not sitting idle either: There is a huge profit
Meanwhile, the biggest investors seem to be focusing on Bitcoin. One whale in particular attracted attention with its $2.7 million profit. A whale bought 300 BTC on January 23, when the Bitcoin price was below $39,000. After 20 days, he deposited 300 BTC back to Binance and made a 24% profit. It subsequently earned $2.78 million. Another whale deposited 2,742 Bitcoins ($132 million) into the Binance exchange the other day. The same whale had withdrawn these Bitcoins from Binance a few days ago at a price of $43,277. He made a profit of $13.5 million in 4 days, more than the first whale.
Meanwhile, Bitcoin price is currently trading at $48,132. BTC price fluctuates following Spot Bitcoin ETF approval. Cryptocurrency whales continue to play an important role in the market. Trading transactions and investments can affect the direction of the market. Tracking and analyzing whales’ moves can be beneficial for investors. However, the cryptocurrency market is a risky market and investors need to be careful.
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