Various altcoin projects continue to attract the attention of whales. In this article, we will talk about several million dollar coin moves transferred to Binance. Here are the details…
Altcoin projects are pulling out of wallets
On March 21, Lookonchain data revealed that a giant whale address had pulled $40.5 million worth of cryptocurrencies onto the chain an hour ago. The withdrawn cryptocurrencies include 1,149 BTC worth approximately $32 million, 3,746 ETH worth approximately $6.58 million, 1.58 million MANA worth approximately $951,000, 1.38 million SAND worth approximately $908,000 and 41,591 HFTs worth approximately $27,000. This transaction took place in the midst of several major cryptocurrency transfers that took place on the same day.
1.5 million IMX transferred to Binance
On the other hand, according to on-chain data analyst Ember, crypto fund Arca transferred 1.5 million IMX to Binance, worth about $2.17 million. The IMX Foundation treasury address also transferred 1 million IMX, worth approximately $124, to Binance at around 6 am on the same day. The two addresses have transferred 2.5 million IMX to Binance, collectively worth about $3.41 million, since the previous night. The giant whale address had previously transferred 1.5 million IMX to the chain at an average price of $0.95 ten days before Binance. Two hours before ImmutableX announced its “two IMX updates,” the address transferred 1.5 million IMX back to Binance, potentially making a profit of around $750,000 should the whale sell its IMX holdings.
4,000 ETH transferred to Uniswap
Additionally, Lookonchain data revealed that a Smart Money address dumped 4,000 ETH worth approximately $7 million into the Uniswap platform six hours before the giant whale address transferred cryptocurrencies to the chain. The address simultaneously transferred 16,000 ETH to Binance, with 20,891 ETH worth approximately $36.7 million remaining at the address and an average holding price of $1,464.
Same address cryptocoin.com As we have also reported, it had previously withdrawn 10,597 ETH from FTX on July 5, 2022, when the average price was $1,120. In March of this year, the address exchanged 44 million USDC for 27,957 ETH, with an average price of $1,573 while USDC was not stable. Activity from giant whale addresses has caused a stir in the cryptocurrency market. Many traders have speculated about its potential impact on prices. While it remains unclear what the intentions of the whales were, their actions highlighted the importance of closely monitoring major transactions in the cryptocurrency market.
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