Unveiling the Smart Whale: $16M USDC Deposit on Binance Sends Shockwaves Through Crypto Market

By Lola Coin Jun 25, 202386Views

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An unknown investor, known as a “smart whale,” has deposited $16 million worth of stablecoins into the cryptocurrency exchange Binance. This investor has a history of making savvy trades and has already made three successful trades in the past. These trades include selling Ethereum at a high price, exchanging USDC for Ethereum before it lost its dollar peg, and withdrawing all assets from the FTX exchange before it suspended user withdrawals. It is still unclear what the investor plans to do with the $16 million on Binance. Additionally, a separate whale has withdrawn a significant amount of Chainlink from the Kraken exchange. The blockchain tracker also identified crypto trading firm Jump Trading accumulating several altcoins, including Lido DAO, Mask Network, Perpetual Protocol, and LeverFi.

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