In the cryptocurrency world, the movements of whales continue to attract the attention of investors by causing large fluctuations in the market. As of October 2, large transactions on popular cryptocurrencies such as meme coin Dogecoin and Ethereum are driving price movements, while on-chain activity reveals the strategic steps of large investors. In particular, the 18% pullback in Dogecoin, massive transfers by Ethereum whales and significant token movements of companies such as Animoca Brands once again show how dynamic the crypto market is.
Popular meme coin in focus of whales
As crypto market volatility continues unabated, leading meme coin Dogecoin (DOGE) has retreated 18% from its peak price, according to data shared by Santiment on social media on October 2. Although this price peak on Saturday was quickly replaced by a decline, on-chain activities show that the whales’ interest in Dogecoin has not ended yet. This reveals that DOGE’s impact on the market is not solely based on price and that the activities of large investors are still quite active.
As one of the most popular meme coins in the crypto world, Dogecoin manages to constantly attract the attention of large investors, that is, “whales”. Whales is a term given to investors whose assets reach millions of dollars, and the movements of these investors on DOGE can have great effects on the market. These large investors, who make profits especially before the peak price, continue their activities in the network despite price fluctuations. According to the data shared by Santiment, whales are still trading heavily on the DOGE network, which is seen as a positive sign about the future potential of the meme coin.
ETH, huge move from PIXEL whales: 1500 ETH sent to Binance
In addition to these developments in Dogecoin, the movements of Ethereum (ETH) whales also attracted attention on October 2. In particular, a whale with the address 0xAA1…3eE57 transferred 1,500 ETH to the Binance exchange in the past hours. This transfer is worth approximately $3.72 million and is thought to have been made for sale purposes. This whale has made more than $32 million in profits from Ethereum since September 2023. Most of the investors, who currently hold 14,456 ETH in their portfolio, are locked in different staking protocols and the Pendle platform. Despite the volatility in ETH price, this whale’s strategy seems to be largely based on liquidating some of his assets and optimizing his earnings.
Animoca Brands, as one of the important players in the crypto world, made a notable transaction on October 2. According to @TheDataNerd’s monitoring, the company transferred 8 million PIXEL tokens to the Binance exchange. The total value of this transfer is calculated as approximately 1.11 million dollars. Animoca Brands is known for its investments in the field of blockchain and NFT, and PIXEL stands out as one of the projects that the company considers strategically. This major transfer shows that the company has not lost its dominance over PIXEL and still holds 21.94 million PIXEL tokens. The total value of PIXEL tokens is currently around $3.1 million.
Another notable move from ETH whales came from the investor who withdrew 24,000 ETH from the Lido protocol and sold it. According to @ai_9684xtpa’s monitoring, this whale sold all the ETH he bought back from Lido on September 27 in the last four days. As of October 2, this investor sent 7,000 ETH to the Coinbase exchange, and the total value of this transfer was calculated as $17.68 million. This whale not only sold 24,000 ETH, but also liquidated the 4,980 ETH he had previously purchased. The whale sold a total of $76.45 million worth of ETH and made a profit of $2.09 million from this process. These large selling transactions may have put significant pressure on the market, but the whale’s strategy continues to be watched carefully as it is geared towards maximizing its profits.
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