New Data Reveals Ethereum Whale Selling Off Coins as ETH Loses Momentum
A recent report from blockchain data tracker Lookonchain has revealed that a deep-pocketed Ethereum (ETH) investor, who had been dormant for a year, has started selling off its crypto assets. The whale is selling its stash of ETH through decentralized exchange platforms (DEX), with 18,865 ETH already sold for four million DAI. The average selling price is $2,229, and the investor still has 5,588 ETH ($12.5 million) remaining.
Chainlink Deposits into Binance
Lookonchain also highlights the significant amount of Chainlink (LINK) being deposited into Binance, the top crypto exchange platform by volume. Noncirculating supply wallets have deposited 8.3 million LINK into Binance, which is worth $119 million at the moment. Interestingly, these deposits usually occur when the price is at its lowest and tend to precede a price increase.
The Success Story of Bonk Meme Asset
In its analysis of the Solana-based memecoin Bonk (BONK), Lookonchain reveals a trader’s remarkable success story. The trader owns two wallets and has made significant gains from trading BONK. Despite losing $46,000 on November 1st, the trader made an astonishing $4.4 million on December 15th.
Hot Take: Ethereum Whale Awakening and Market Dynamics
The awakening of a dormant Ethereum whale and its decision to sell off coins indicates a shift in market dynamics. This whale’s actions may influence the overall sentiment and momentum of Ethereum. Additionally, the deposits of Chainlink into Binance suggest that market participants are strategically timing their moves to take advantage of potential price increases. The success story of the Bonk trader highlights the potential for significant gains in meme assets. These developments demonstrate the importance of monitoring market trends and whale activity to make informed investment decisions in the crypto space.
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