Whale Takes Action on These Three Altcoins: Withdraws Massive Amounts

On-chain analytics platform Lookonchain reported today that a newly created wallet withdrew three different altcoins from OKX. The total value of the transfers reached approximately $6 million, at the prices used for the sharing.

1.15 million LIT was sent to a wallet starting with “0x1c75”. This portion was estimated to be worth approximately $3.31 million and constituted the largest item in the transfer package.

The same address also withdrew 7.995 million ENA worth approximately $1.51 million and 7.31 million ARB worth $1.18 million. Thus, the total value of the three assets was approximately $6 million.

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While the consolidation of the transfers into a single new wallet is noteworthy, the owner of the address or the purpose of the transaction has not been disclosed. LIT accounts for more than half of the total dollar value, while ENA and ARB were moved to the same wallet in smaller shares.

ENA’s price, in particular, hit a sharp low during the recent altcoin downturn. Whether whale wallets took advantage of this low point and made purchases is not definitively known.

*This is not investment advice.

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