Multiple on-chain reports today confirmed that whales panicked during the recent market correction. Ethereum (ETH), in particular, has seen a series of sales exceeding $50 million in size. Meanwhile, names like MATIC and PEPE welcome their new buyers…
Giant whale sold $30 million worth of Ethereum (ETH) today
Recently, after the latest market crash, a whale sold 16,751 Ethereum worth about $30.8 million on Binance. According to Lookonchain’s report, the whale sent its ETH reserves to Binance and then exchanged it for Tether (USDT). Shortly after, he withdrew 30.8 million USDT to his wallet. He then deposited 30.8 million USDT to Aave and Compound through 2 addresses.
Lookonchain also reports that after the recent crash, whales panicked selling WBTC and ETH. The highlights were as follows:
- The giant whale address “0x700b” sold 150 WBTC ($4.36 million) for an average price of $29,053
- The whale named “0x0121” sold 3,967 ETH ($7.32 million) at an average price of $1,846
- “0x390c” sold 7,115 ETH (about $13.12 million) at an average price of $1,844.
In another transaction, another whale transferred 2196 ETH to Binance. It currently holds 22,340 ETH ($41.25 million). Whale had cashed out all the ETH he had previously transferred to Binance shortly after.
Meanwhile, among the altcoins that are selling is XRP. According to reports, sales of Ripple, the company behind XRP, have continued to increase for the past two years. This year, the fintech giant sold 37% more XRP per month than in 2022. This development increased both bullish sentiments and concerns.
According to the data, Ripple has sold an average of 315 million XRP every month since January. Notably, the circulating supply of XRP stood at 50,334 billion at the start of this year. However, due to monthly escrow releases and XRP sales, this figure has increased to 52.554 billion. This marks a 4.4% increase in circulating supply and an additional 2.22 billion XRP this year.
XRP offers optimistic metrics in the overall picture
The good news for XRP is that whale wallets are getting more full than ever. According to Santiment, the number of whale wallets holding more than 100 million XRP worth over $74 million increased recently amid an accumulation trend where large XRP whales hit an 11-week high.
Santiment’s data indicates a slippage with the rise in accumulation in July 2023, with the XRP price hovering around $0.7387. This follows a sell-off period where the number of major investors fell below 200. Historical data showed that in the last 30 days, the number of active XRP addresses has increased by over 23% and 43% compared to last year. These addresses, holding between 100,000 and 100 million XRP tokens, have accumulated approximately 838 million XRP tokens since May.
These coins are gaining traction as ETH whale wallets move away
Dogecoin (DOGE)
According to the data, Dogecoin whales have been busy accumulating in recent weeks. On-chain analyst Ali Martinez reports that whales have purchased approximately 3 billion DOGEs worth $225 million in the last 3 weeks.
Also, analytics platform Santiment reports that the new week is a good start for cryptocurrencies like SHIB, DOGE and APE. Dogecoin is in the focus of attention, especially with the expectation that Elon Musk will integrate into the new social media platform. cryptocoin.com We have included the details of the development in this article.
Polygon (MATIC)
According to Whale Alert’s report, a giant whale recently transferred 14,999,000 MATIC ($10.749 million) from an anonymous wallet to the Polygon network for commitment. The whale will likely use its MATIC reserve for DeFi or staking.
a16z sends million dollar MKR to Coinbase
On-chain tracker Spot-On-Chain reports that venture capital giant Andreessen Horowitz (a16z) has sent over a million dollars of MakerDAO MKR to Coinbase every day for the past week.
According to the data, wallets belonging to a16z have deposited a total of 9,223 MKR worth about $9.7 million on the crypto exchange. The firm also stated that the MKR price dropped after deposits were made.
Meanwhile, MakerDAO founder Rune Christensen was also collecting MKR in the same process. Last week, it traded a total of 1.61 million DAI for MKR at an average price of $998.
Giant whale pulled 4.6 trillion PEPE from Binance
According to Spot-On-Chain data, the giant whale address, which started with 0xa54, bought 4.6 trillion PEPE from Binance in the new week. The trades came during the hours when the PEPE price was trading at an average of $0.000001409. In total, the whale collected $6.47 million worth of PEPE.
1087 BTC transfer to Binance
According to Lookonchain’s report, a giant whale transferred 1087 BTC to Binance wallet in the past hours. The whale transferred approximately $31.6 million in this transaction. The deep-pocketed investor had collected 38,000 BTC from Binance and Huobi in 2022 at an average price of $19,267. During this period, he bought $734 million worth of BTC. He then deposited 15,000 BTC on Binance for an average price of $26,956 in 2023. As Bitcoin price hovers around $29,000, he is probably preparing for a sale by transferring his investment back to the stock market.
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