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Bitcoin’s Decline Sparks Activity Among Altcoin Whales: A Look at the Latest Buyers, Sellers, Losers, and Their Preferred Altcoins!
Author:
Elif Azra Güven
10.06.2024 – 11:22
Update:
2 seconds ago
0
The recent fluctuations in Bitcoin have led to increased activity among whales in the cryptocurrency market. Some whales took advantage of the dip in prices to buy, while others capitalized on the rise to sell.
As Bitcoin surged above $71,000 last week, altcoins followed suit, but as Bitcoin dropped to $69,000, altcoins also saw significant declines.
New Whale Wallets Acquire UNI, BLZ, PEPE, and TRB!
According to a post by Lookonchain, newly created whale wallets have recently purchased UNI, BLZ, PEPE, and TRB from Binance and OKX.
“Fresh whale wallets acquire UNI, BLZ, PEPE, and TRB.
0x3492 withdrew 870,827 UNI ($8.5 million) from OKX 1 hour ago.
0xe841 withdrew 7.69 million BLZ ($2.16 million) from Binance 1 hour ago.
0x81cC and 0xf226 withdrew 303.4 billion PEPE ($3.8 million) from Binance and OKX 11 hours ago.
0x8499 withdrew 20,628 TRB ($1.9 million) from Binance 25 hours ago.”
Dormant Whale Sells MKR and AAVE for Profit!
According to Spot On Chain, a dormant altcoin whale deposited 3,800 MKR worth $9.3 million and 20,000 AAVE worth $4.45 million on Binance for profit-taking.
“A dormant whale deposited 3,800 MKR ($9.3 million) and 20,000 AAVE ($4.45 million) on Binance for profit-taking after a year of holding!
If sold now, the profit would be $6.86 million (+281%) for MKR and $645k (+17%) for AAVE.”
Unfortunate Whale Sells ENA at a Loss!
An unfortunate whale, who thought they were buying at the bottom, sold their Ethenas (ENA) at a loss after the recent decline. This whale often bought altcoins before price surges but struggled with timing their exits.
“Not all dip buyers can profit.
Just 6 days ago, this whale spent $1.6 million USDC to buy 1.62 million ENA right before the price rose above $1.
Currently, with a 23% drop in price (7D), the whale sold all ENAs for only 1.32 million USDC.
This resulted in a loss of $283k (-17.6%) in less than a week!
Overall, this whale frequently bought tokens before price surges but did not always make the best exits.
Consider the whale’s entry as a reference and align it with your own exit strategy!”
*This is not investment advice.
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