As an experienced crypto analyst, I’ve seen my fair share of market volatility and whale activity. The recent price crash has left many investors anxious and uncertain about the future of their investments. However, it seems that not everyone is panicking.
Amidst the market chaos, there’s been a notable trend in on-chain activity. Specifically, a large investor, or “whale,” has been actively purchasing more assets for their portfolio. Of particular interest are the recent transfers of over 957.77 billion PEPE and 583.78 billion Shiba Inu tokens, along with other meme coins.
This whale executed a significant sale of approximately $120 million worth of various assets from Binance. A thorough analysis of the transaction history reveals a diversified investment in 14 different layer-1, layer-2 tokens, and meme coins.
Crypto Whale Goes All In Despite Price Crash
The fall of Bitcoin beneath $59,000 has left numerous investors in a state of confusion, contemplating their next steps. This downturn ignited a chain reaction throughout the crypto market, resulting in significant losses for almost every cryptocurrency within the past 24 hours.
The cryptocurrency market is experiencing a short-term bearish trend based on recent trading activity over the last day. Consequently, prices have plummeted significantly, resulting in numerous liquidations and a total market capitalization decrease of 4.34% to $2.16 trillion. Whale transactions indicate a selling frenzy, with one notable whale transferring 1,723 BTC, equivalent to approximately $106 million, to Binance within the past 24 hours.
As a researcher, I’ve discovered some intriguing information from Lookonchain regarding a new whale wallet on Binance. This wallet has seized the opportunity presented by recent price dips to amass various cryptocurrencies, including an impressive 9,425 ETH worth approximately $30.15 million. The significant accumulation of Ethereum can be rationalized by the upcoming launch of Spot Ethereum ETFs, which is anticipated to trigger a substantial price increase for Ethereum.
The new high roller account in the crypto market is placing large bets on meme coins, contrasting the more reserved strategies of other significant investors. This investor has amassed substantial holdings of SHIB and PEPE, which some view as a shrewd move to acquire potentially undervalued assets. The account withdrew approximately $19.5 million in PEPE tokens (957.77 billion) and SHIB tokens (583.78 billion). Additionally, it has accumulated 6.95 million DOGE worth around $58.15 million and 1.56 million FLOKI worth about $1.56 million.
A fresh wallet withdrew more than $120M worth of assets from #Binance 2 hours ago.
As a crypto investor, I currently hold the following balances in my portfolio:
— Lookonchain (@lookonchain) July 3, 2024
Approximately $22.1 million is represented by the following tokens: 40.7 million USDT, 16,192 BNB, 438,721 RNDR, 5.18 million MATIC, 3 million FTM, 104,128 LINK, 840,776 FET, 39,141 AVAX, and 2.76 million GRT.
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2024-07-05 06:11