Top Crypto Whales Offload Ethereum (ETH) Altcion Prior to 40% Market Correction: Insights from On-Chain Data

Top Crypto Whales Offload Ethereum (ETH) Altcion Prior to 40% Market Correction: Insights from On-Chain Data

Cryptocurrency Whales Offload Millions of Dollars worth of Crypto

Cryptocurrency whales took action again, selling off millions of dollars worth of on Saturday before YFI corrected by over 40%. Based on blockchain-tracking firm Lookonchain, one wallet deposited approximately $5.8 Million worth of YFI to cryptocurrency exchanges, presumably to be sold off.

According to Lookonchain, a chart showed YFI dropping to a low of $8,971 as the whales unloaded their holdings. The asset has since bounced and is trading for $9,408 at the time of publication, up over 2% in the last 24 hours.

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1Inch Investment Fund Sells UNI Tokens at a Loss

Lookonchain likewise noticed that a wallet linked to the a fund of investment behind the decentralized exchange (DEX) aggregator 1inch (1INCH) sold Uniswap rallies to offload its UNI tokens for $2.13 Million. UNI is trading for $5.09 at the time of publication, nearly the same price as when the 1inch Investment Fund sold its holdings.

Hot Take: Cryptocurrency Whales are Continuously Shaping the Market

It’s essential to keep track of on-chain activity as it gives insights into how cryptocurrency whales are influencing the market and the short-term price movements in the space.

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