The cryptocurrency market faced intense selling pressure following the Binance hack, which resulted in losses of approximately $6.3 billion, with major cryptocurrencies, particularly Bitcoin
The cryptocurrency market faced intense selling pressure following the Binance hack, which resulted in losses of approximately $6.3 billion, with major cryptocurrencies, particularly Bitcoin and Ethereum, losing value. Bitcoin fell by over 3%, dropping to around $76,000, while Ethereum also fell below $2,200.
While market activity continued after these declines, transfers made by whale wallets also attracted attention.
According to Lookonchain, a cryptocurrency analytics platform, a whale with the address “0x15a4” made a profit of over $20 million by closing long positions of 1,000 BTC (worth approximately $78.18 million) and 10,000 ETH (worth approximately $22.35 million) that it had held for four months.
After taking profits, the whale went into a short position, opening a 13,000 ETH (worth approximately $29 million) short position with 20x leverage.
According to Lookonchain, despite the market downturn, whales are still buying BTC. In the last 24 hours, 9 newly created wallets purchased 1,900 BTC (worth $148 million) from Galaxy Digital.
According to Lookonchain, legendary investor dimethyltryptamine.eth, who once bought 5.9 trillion PEPE tokens by spending only 0.125 ETH (approximately $251) and had an unrealized profit of around $100 million, purchased an additional 45.08 billion PEPE tokens worth approximately $206,500 after the Binance hacker sold all of his PEPE assets.
The large whale “58bro.eth (0x58bro)” sold 8,000 ETH following the Binance hack news. After recovering over $17.96 million worth of ETH from Aave, he transferred his funds in installments to OKX and has since withdrawn $10.5 million USDT from the exchange to pay off his loans. Currently, the address still holds 4,911.05 WETH as collateral on Aave, with a debt of $2.51 million USDT.
Finally, according to TradingBeats data, BNB, after falling as low as $670.1 in Hyperliquid in the morning, recovered by 6.8% to rise to $715.8. However, its loss over the last 24 hours is still at 5.2%. At this point, during the market downturn, many large investors intensified their BNB positions.
While the long position is prominent among large investors, seven major accounts hold a total of $12.07 million in long positions, compared to $3.24 million in short positions held by three accounts. Additionally, some large investors appear to have closed their short positions and moved into long positions.
*This is not investment advice.
Continue Reading: Bitcoin and Ethereum Declined, Whales Moved! They Made Millions of Dollars Worth of Moves During the Decline: Here Are Their Preferred Altcoins!
