Recently, the moves of cryptocurrency whales have caught the attention of investors. Especially Aave (AAVE), USDC, Optimism (OP) tokens attracted attention. Here are the details…
Whales are accumulating Optimism (OP): What’s next?
Optimism price is showing some interesting developments on the three-day chart. The buy signal produced by the Wave Trend indicator, coupled with the MRI’s second buy signal that emerged on June 9, suggests that the OP may be due to a higher timeframe trend reversal. Optimism price increased by 272% between December 2022 and February 2023. This impressive rise hit an all-time high of $3,289. Soon, the OP bears took over, triggering a brutal enough correction to undo all the gains in the next 105 days.
Also, whales holding 100,000 to 1,000,000 OP tokens appear to have accumulated since May 22. About 35.85 million whales joined this category last month. In addition, whales holding 1,000,000 to 10,000,000 OP tokens also increased from 341 million on 30 May to 410 on 25 June. Due to the enormous scale of these whales’ accumulation spree, there may be a hint that Optimism price may be ready for a rally. The backlog from high-net-worth investors can be confirmed by a consistent increase in on-chain volume. As seen in the chart below, there are three high peaks, indicating that the activity of high-net-worth investors is increasing.
Whales focus on other coins
One whale, first spotted by blockchain tracking firm Lookonchain, is in the past selling Ethereum (ETH) at a local peak, trading USDC for ETH before losing its dollar peg, and crypto exchange FTX just before the bankrupt central platform suspended user withdrawals. made three extremely consistent transactions, including withdrawing all funds from Now, the whale has invested 16 million USDC in Binance. At the time of this writing, it is not yet clear what the whale is doing or planning to do with the $16 million worth of coins on Binance.
Lookonchain also found that a whale has withdrawn funds from the decentralized oracle network Chainlink (LINK) from crypto exchange Kraken, adding to its $9.67 million LINK withdrawal series. The blockchain tracker also detected wallets owned by crypto trading firm Jump Trading and identified four altcoins held by the company; These include liquid staking service provider Lido DAO (LDO), decentralized social network Mask Network (MASK), decentralized derivatives platform Perpetual Protocol (PERP), and decentralized leveraged trading protocol LeverFi (LEVER). The tweet states the following:
“Jump Trading has accumulated MASK, LDO, LEVER and PERP over the past week. Jump Trading currently holds:
- 1.59 million MASK ($6.15 million);
- 1.09 million LDO ($2.11 million);
- 509 million LEVER ($686,000);
- 1.07 million PERP ($545,000).”
AAVE leaps with whale movements
Finally, AAVE has risen over 24 percent in the past 24 hours. Whales are believed to be behind this rise. Because a whale bought over 24,000 AAVEs in exchange for $1.65 million in Ethereum withdrawn from Binance. Another whale bought a total of $13.2 million in coins.
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