Whales Gobbling up Ethereum (ETH) and a Handful of Other DeFi Tokens, According to the Crypto Tracker Lookonchain

Lookonchain notes one unknown whale wallet withdrew 299,133 UNI worth $2.39 million from the crypto exchange Gate.io over the weekend.

Crypto whales have been accumulating Ethereum (ETH) and several decentralized finance (DeFi) tokens, recent on-chain data shows.

One unidentified whale wallet withdrew 299,133 Uniswap (UNI) tokens, valued at $2.39 million, from the centralized crypto exchange Gate.io on September 16th, according to the crypto tracker Lookonchain.

The same whale has also been accumulating other DeFi altcoins. Between August 13th and September 12th, the whale withdrew 19,373 Aave (AAVE) tokens, valued at $2.95 million, and 596 Maker (MKR) tokens, valued at $805,000, from the Binance exchange.

Another whale wallet, linked to the investment firm Longling Capital, purchased 5,000 ETH tokens, valued at $12.34 million, on September 16th. According to Lookonchain, the wallet now contains 68,064 ETH tokens, valued at over $168 million.

A third whale purchased 31,173 AAVE tokens, valued at $4.8 million, on Sunday. The whale then deposited the tokens into the Aave protocol to borrow funds and accumulate more tokens.

“Then he borrowed 2.7 million GHO from Aave and swapped it to USDC.”Lookonchain noted, adding that the whale ultimately deposited the USDC tokens into Coinbase to buy more AAVE.

At the time of writing, Ethereum is trading at $2,634, up nearly 7% in the past 24 hours. The second-ranked crypto asset by market capitalization is now less than $200 away from the key psychological resistance level of $2,650.

UNI, the 22nd-ranked crypto asset by market capitalization, is trading at $8.12 at the time of writing and is up nearly 6% in the past day.

AAVE is trading at $162.43 at the time of writing. The 44th-ranked crypto asset by market capitalization is also up nearly 6% in the past 24 hours.

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