A Crypto Whale Withdraws $32 Million Worth of Ethereum (ETH) from Binance
A blockchain monitoring platform, Lookonchain, recently observed a crypto whale making significant transactions on Binance. The whale deposited 31.8 million Tether (USDT) into Binance and later withdrew $15.94 million worth of Ethereum (ETH). Shortly after, the whale made another withdrawal of $16 million worth of ETH from the exchange. According to Lookonchain, the whale is holding onto their ETH, which was purchased at a price of $1,836.
Another Whale Trades ETH for Pepe
Lookonchain also identified another whale who has been involved in trading activities this year. This particular whale traded $1.1 million worth of ETH for Pepe, a rival cryptocurrency to Dogecoin (DOGE). However, this whale has not been successful in their trades so far. They lost 456 ETH ($1.3 million) on ARB (Arbitrium) but made 269 ETH ($423,000) on MKR (Maker).
Hot Take: Whales Make Waves in the Crypto Market
The recent activity of these whales highlights their significant influence on the crypto market. Withdrawing large amounts of Ethereum and engaging in high-value trades demonstrates their confidence and ability to impact prices. While one whale profits from their ETH holdings, another experiences losses and gains through different token trades. These actions emphasize the importance of monitoring whale activity as it can provide valuable insights into market trends and potential price movements.