Whale Movements Attract Attention in the Cryptocurrency Market

While the cryptocurrency market has been volatile lately, the movements of whales (big investors) are attracting the attention of investors.

As cryptocurrency markets have been volatile lately, the movements of whales (large investors) have garnered attention from investors. When examining transactions from July 6, there were notable developments, with whales both making substantial investments and selling their holdings for various reasons. Here are the latest updates on cryptos like PEPE coin.

Whale accumulating UNI sells for the first time

According to tracking by Lookonchain, a whale deposited 561,782 UNI (roughly $4.38 million) into Binance 3 hours ago on July 6. This investor was noted to still be holding 2 million UNI (approximately $15.48 million) at their address. Interestingly, this whale had been continuously accumulating UNI throughout the last year, and this was recorded as its first selling transaction of UNI. Notably, most of the UNI being sold appears to have been previously withdrawn from Binance, with a total of 1.31 million UNI (equating to approximately $8.16 million at an average price of $6.22) being moved out of the exchange.

A whale deposited 561,782 $UNI($4.38M) into #Binance 3 hours ago, leaving 2M $UNI($15.48M).This whale has been accumulating $UNI over the past year, and this is his first sale of $UNI.Most of his $UNI was withdrawn from #Binance, with a total of 1.31M $UNI($8.16M) withdrawn… pic.twitter.com/pxlY1CPNAb

This brings up the possibility of the whale strategically collecting their holdings and then selling them. Since the UNI price has been fluctuating recently, it is speculated that the whale might be selling to secure profits. However, it remains to be seen how investors will interpret this news and how the UNI price will be affected by the selling.

Whale's PEPE coin investment might incur losses

Another whale deposited $3.86 million worth of PEPE coin into Binance 2 weeks ago, according to tracking by TheDataNerd on July 5. This investor was noted to have purchased these tokens for $5.07 million at the time. Based on current market value, if the whale were to sell these holdings, they could incur a loss of $1.21 million, highlighting that even whales' investment decisions may not always be optimal and market volatility poses substantial risks.

6 hours ago, a whale 0xf22 deposited 435B $PEPE (~$3.86M) to #Binance 2 weeks ago, he accumulated those tokens for $5.07M and will have a loss $1.21M if sold at current price.At the same time, @wintermute_t also deposited and sold 593.6B $PEPE for $4.61M.Address:… pic.twitter.com/pbdU6xIhnx

3 whales sell ETH to pay off debt, ONDO investor shifts holdings to Bybit

In another finding by Lookonchain on July 5, 3 different whale addresses notably deposited and sold a total of 28,558 ETH (approximately $82.2 million) to Binance in the last 2 hours. This activity suggests that the whales in question had to sell their holdings to pay off debt. While the ETH price has been rising recently, such selling by whales due to their debts may create some selling pressure in the market.

As the price of $ETH drops, many whales are about to face the liquidation of $ETH deposited in #Aave and #Compound.3 whales deposited 28,558 $ETH($82.2M) to #Binance in the past 2 hours and sold to repay debt.https://t.co/4ynPQwessDhttps://t.co/ABzz0fceAt… pic.twitter.com/PNYtFvlnV1

The account at address 0xBef7…a5560, followed by Ai_9684xtpa, notably deposited 3 million ONDO tokens into the Bybit exchange 2 months later, adding to the $ONDO position they opened 3 months ago. The total value of this investment amounts to roughly $2.95 million. This address still holds 13.44 million units of ONDO (worth approximately $13.19 million) and acquired these assets at an average price of $0.9817. Based on its current market value, it appears to be sitting on an unrealized gain of about $82,000. It remains to be seen why this investor is shifting their holdings to a different exchange, but they may be considering factors like transaction fees and liquidity on different exchanges.

三个月前建仓 $ONDO

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