Tag: Whale

Ethereum Alert: Over 10,000 ETH Moved to Binance by a Smart Whale

by Blockchain News

A notable Ethereum smart whale transferred 12,087 ETH, equivalent to around $20.61 million, to Binance today, according to EmberCN, an onchain analys. This transaction marks the latest in a series of strategic moves by the investor, who has been notably silent for the past two years.

This smart whale, who initially acquired 52,000 ETH between December 2018 and January 2019 at an average price of $110, has fully liquidated their holdings, realizing an estimated profit of $46.15 million, or an 804% increase. The transactions were executed through various centralized exchanges (CEXs), including Kraken, Bitstamp, and most recently, Binance.

A Multi-Year Strategy Unfolds

The whale’s investment strategy spanned over several years and involved multiple transactions:

June 2019: 27,198 ETH were transferred to Bitstamp at an average price of $257.

July 2019 to August 2021: 12,715 ETH were moved to Kraken, with an average price of $1,911.

August 2023: 12,087 ETH were sent to Binance at an average price of $1,705.

The average selling price across these transactions was $998, significantly higher than the initial average buying price of $110.

Calculating the Gains

The whale’s total investment was initially acquired for approximately $5.73 million (52,000 ETH at an average price of $110). After the series of transactions, the total value realized was approximately $51.88 million, yielding a profit of $46.15 million or an 804% increase.

Implications for the Market

The recent transfer to Binance is noteworthy not just for its size but also for what it may imply about market sentiment. Large transfers of cryptocurrency to exchanges often precede selling activity, which could exert downward pressure on prices. While it’s difficult to attribute market movements to single actors, the timing and scale of this transaction could be interpreted as a lack of optimism about Ethereum’s immediate future.

Image source: Shutterstock

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Three Arrows Buys Your ETH, Addresses Swell After Hinting Bearish Stand

by NEWSBTC

ETH had seen its price take a tumble along with the rest of the market in the January market crash. But while the broader market had panicked, whales had seen this as an opportunity to fill up their bags at low prices. It was basically a free-for-all as sell-offs had rocked the digital asset. Three Arrows Capital was among those who had taken advantage of the low prices.

The hedge fund which is headed by Su Zhu had loaded up on ethereum, pouring tens of millions of dollars into the asset. This comes despite CEO Su Zhu’s comments about the Ethereum network, which he has disparaged in the past. It seems that while Zhu may no longer be a fan of ethereum, his firm is taking the step to leverage the opportunities presented by the network.

3AC Buys $56 Million Worth Of ETH

A new report from Wu Blockchain has shown that Three Arrows Capital (3AC) had been ramping up its crypto buying activities. The firm had gone on a buying spree that came out to more than $50 million worth of ETH purchased. An address that was identified to belong to the hedge fund had been rapidly buying thousands of ETH over a couple of days.

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Related Reading | Cardano (ADA) Forms Local Resistance As It Readies For Another 40% Liftoff

In three days, 3AC had accumulated a total of $56.67 million worth of ETH, coming out to 18,575 ETH purchased in three days.

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Most of these ETH had come in increments of 2,000 at a time, staking up over time to a significant balance. As of the time of this writing, the total value of the Ether had grown by almost $2 million, now sitting at over $58.5 million.

3AC CEO Does Not Like Ethereum

CEO of 3AC, Su Zhu, has not been the biggest fan of Ethereum in recent times. In November last year, NewsBTC had reported that the CEO had reportedly said that he was leaving the ethereum project behind. This is a project that Zhu has supported in the past but he had given reasons for him taking this decision, the high cost of a transaction is at the top of the list.

Related Reading | Bitcoin Settles Above $43,000, But What Does The 4-Year Cycle Say?

Zhu lamented that ETH had abandoned its users due to its high fees. At that point, the transaction fees had risen exponentially due to the high traffic on the network, leaving smaller investors being unable to use transact on the blockchain. Zhu had referred to the situation as “gross” given that newcomers were unable to enter the space due to high fees.

Ethereum price chart from TradingView.com

ETH plunges to $3,100 | Source: ETHUSD on TradingView.com

The CEO’s lamentations had not affected his investment firm’s view on the digital asset, however. About two weeks after Zhu had made the comments, Three Arrows Capital had purchased 156,400 ETH for about $676.37 million and had transferred it to its wallet which Wu Blockchain had identified as belonging to the firm.

Zhu, too, had softened his stance on the ethereum network after widespread backlash, saying that he loved “Ethereum and what it stands for.” Nevertheless, 3AC has maintained its support for the network. This is evidenced by the rapid rate at which the firm has been accumulating ETH.

Featured image from Ethereum Price, chart from TradingView.com

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Top 100 SHIB Holders Control Over 25% of the Total Shiba Inu Supply

by CryptoPotato

Canine-themed tokens’ rally as Shiba Inu (SHIB) led the recovery on Monday. Amidst a renewed bullish momentum in the market, SHIB rose by more than 24%. Several other altcoins also posted decent surges as well, while Bitcoin (BTC) settled for a modest 3% over the past day.

Top 100 SHIB Holders

According to the latest stats compiled by WhaleStats, the top 100 SHIB holders control more than a quarter of the total supply of the memecoin. Several cryptocurrency whales have continued to acquire a massive amount of SHIB in recent times.

As a matter of fact, SHIB has also redeemed itself as the “most traded token.” The last week of January was devastating for investors, but the second-largest memecoin made a swift comeback as large holders or whales bagged more tokens, thereby increasing their positions.

Last week Etherscan came across four such transactions which involved the transfer of a total of 63 billion SHIB tokens to four wallets – likely to be acquisition transfers. The first two consisted of over 6.11 billion SHIB and 1.087 billion SHIB respectively. The remaining two totaled more than 28 billion SHIB.

The latest spike comes on the heels of the announcement of a layer 2 network called ‘Shibarium,’ which will be launched soon. Touted by many as a gamechanger, its second version of the private testnet is already live. Another factor that has catalyzed the uptrend over the weekend was Shiba Inu’s partnership with Italian fast food restaurant Welly’s to roll out a SHIB-themed joint.

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Where’s SHIB Heading?

SHIB’s even managed to outpace the OG memecoin and rival Dogecoin (DOGE), which is up by around 7% on a daily scale. It surpassed two major overhead resistances along the way to climb to a price of $0.000029 at the time of writing. As a result of the surge, SHIB’s market cap rose to a whopping $15.3 billion, eclipsing Polygon (MATIC), while the daily trading volume shot up to $3.03 billion.

According to CryptoPotato’s latest analysis, a decisive break above the hurdles of $0.000026 is likely to open the floodgates for more gains in the near term. So far, the asset seems on the right track for the bulls.

SHIBUSD. Source: TradingView
SHIBUSD. Source: TradingView

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Nearly $2.3 Billion Worth of Bitcoin Moved Out of Wallet Involved in 2016 Bitfinex Hack: Whale Alert

by Dailyhodl

Nearly $2.3 billion worth of Bitcoin (BTC) stolen in the infamous 2016 Bitfinex exchange heist is moving to a new wallet.

Crypto tracker Whale Alert reports that the hacker’s account shifted more than 64,641 Bitcoin across 21 separate transactions on Monday, all of which were sent to the same new wallet.

The BTC trove was valued at nearly $2.3 billion at the time of the transactions.

Blockstream Explorer reports that the receiving address now holds more than 94,643.298 BTC, worth more than $3.66 billion at time of writing. It is currently the fifth-richest Bitcoin address in the world, according to BitInfoCharts.

In August 2016, Bitfinex was hacked for more than 119,756 BTC, worth roughly $72 million at the time and worth more than $4.6 billion today.

In February 2019, Bitfinex published a report stating that the US government had managed to retrieve only around 27 BTC stolen in the hack.

In August 2020, the exchange announced it would award 5% of any recovered funds to anyone who could put the company in contact with the hacker. Bitfinex also said it would allow the hackers themselves to keep 25% of any property that’s recovered if they cooperated with the exchange.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin Whales Take Advantage Of Market Crash To Gobble Up Millions In BTC

by NEWSBTC

The bitcoin crash rocked the market to its core when the digital asset had lost over 50% of its all-time high value to bottom out at $33,000. It was as a result of market sell-offs across the financial space, sparking a ripple effect that was felt heavily in the crypto market. Market sentiment had crumbled during this time as investors had scrambled to sell their holdings.

However, not everyone saw the declining prices as a signal to sell before prices tank even more. Whales, who control a large portion of the circulating supply, took this as a cue to buy and have been filling their bags with all of the bitcoin being dumped on the market by panicking investors.

Whale Gobbles Up Traded Bitcoin

In a report from CC15Capital, the trading activities of a whale are outlined. In what came out to be a long document, it shows that the whale had been purchasing tens of thousands of bitcoin every few hours while traders dumped their coins. CC15Capital which is an asset allocator tracked the wallet and discovered that a single bitcoin wallet had been purchasing millions of dollars worth of bitcoin.

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Related Reading | Market Sentiment Crumbles As Sell-Offs Drags Bitcoin To $33,000

In the event of the past week’s price crash, this single whale had accumulated millions in bitcoin. Each purchase ranged from $2 to $18 million worth of BTC every few hours, averaging 48,000 BTC per purchase.

It looked like the whale was buying up all coins being dumped on the market. By the weekend, the wallet had successfully increased its holdings by a couple of hundred thousand BTC. The more the price dropped, the more bitcoin the whale bought.

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Bitcoin price chart from TradingView.com

BTC trading above $36k | Source: BTCUSD on TradingView.com

CC15Capital, in response, called for bitcoin investors to stop dumping their coins, which are being bought by whales, thereby increasing the concentration of bitcoin supply in the hands of large investors.

Tradable BTC On The Decline

CC15Capital also noted that the volume of bitcoin that is available for sale has gone down. Currently, 14.5 million of the total bitcoin supply is illiquid. This means that this supply has not moved, neither have they been traded. It is the highest concentration of supply which looks to be held for the long-term.

In the same tweet, the asset allocator explains that if the wallets holding this illiquid supply were to increase their holdings by a mere 27%, a total of 4 million BTC, there would be no coins left for sale, driving the supply to zero.

Related Reading | Has Bitcoin Reached Its Bottom? Analyst Says It Still Has A Long Way To Go

Other whales have also taken advantage of the sell-offs happening in the market. As the exchange supply is dwindling, these large investors are making sure there is no shortage on their end when a supply squeeze happens.

In two months, a whale wallet that had zero BTC in November has managed to gather an impressthatalance of over $1 billion in BTC. This account looks to have started buying with the crash and has continued to do so ever since. At the time of writing, the wallet balance sits at $1,013,777,643.51.

Featured image from TokeneoBit, chart from TradingView.com

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Third-Largest Ethereum Whale Just Spent $14 Million on These 3 Altcoins

by CryptoPotato

A single crypto whale has purchased three altcoins worth over $14 million, following several earlier purchases.

Whale Spends $14M on MANA, SAND, and CQT

Ethereum’s third-largest whale wallet, dubbed Light, embarked on another buying spree, adding three coins at a total purchase cost of $14.1 million.

According to data from WhaleStats, a blockchain transaction tracker that keeps tabs on the top richest Ethereum wallet addresses and their activities, Light wallet recently purchased about 642,999 MANA, valued at $1,845,409.

MANA is the native token of the Ethereum-based 3D virtual reality play-to-earn game, Decentraland, and is currently trading at $2.8 per unit.

The whale also bought the native token of the blockchain-based virtual world The Sandbox, adding about 426,000 SAND worth $2,044,800 in the first purchase, and an additional 1,703,978 SAND for a whopping $8,179,094. SAND is currently trading at $4.2 per coin, at the time of reporting.

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Lastly, Light wallet bought about 3,090,000 CQT for $2,039,319. CQT is the native token of the Covalent Network, which provides an application programming interface suite that allows developers to pull data from several leading blockchain platforms. It is currently trading at $0.6 per coin.

Not the First Time

The latest purchases made by this whale wallet do not come as a surprise, considering that they previously made similar ones in the past few weeks.

The Light wallet, which currently holds a total value of over $4.3 billion in digital assets, began its latest shopping spree last week.

The whale bought GALA tokens worth over $1.1 million, more than $2.45 million worth of OMG tokens, over $24.1 million worth of LINK, and its largest purchase, Wrapped Bitcoin (WBTC) worth a whopping $86.4 million.

In all, the Ethereum whale has splurged over $128 million in its recent purchases, adding two metaverse tokens and four other crypto assets.

In other news, a single whale bought about 4 trillion SHIB, worth $136 million at the time, within 24 hours.

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Bitcoin Whale Initiates $466,510,721 Coinbase Transfer As Large Ethereum and XRP Holders Emerge

by Dailyhodl

A massive whale is turning heads after relocating nearly half a billion dollars worth of Bitcoin (BTC) in a single transaction.

Whale-tracking bot Whale Alert initially detected the huge BTC transfer and reported the details to its 1.9 million Twitter followers.

The whale involved transferred 9,901 BTC, worth $466.51, from US-based crypto exchange giant Coinbase.

Blockchain.com says that the deep-pocketed crypto investor paid 0.00245662 BTC in transfer fees, worth $115.89 at time of writing.

The distributed ledger explorer also reports that this massive bag of Bitcoin has moved once again less than an hour later, this time for a fee of just 0.0011104 BTC, or $52.38.

The initial receiving wallet has only transacted twice and currently has a balance of zero.

Bitcoin is mostly flat on the day and currently exchanging hands at $47,337.

BTC isn’t the only digital asset that whales have been shuffling around lately as top altcoin Ethereum (ETH) and global payments crypto XRP have been on the move as well.

Here’s a breakdown of the largest ETH and XRP transfers over the past day:

Ethereum is also trading sideways and is currently priced at $3,742. XRP is down 1.25% on the day and is trading for $0.83.

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Disclaimer: Opinions expressed at The Daily Hodl are not investment advice. Investors should do their due diligence before making any high-risk investments in Bitcoin, cryptocurrency or digital assets. Please be advised that your transfers and trades are at your own risk, and any loses you may incur are your responsibility. The Daily Hodl does not recommend the buying or selling of any cryptocurrencies or digital assets, nor is The Daily Hodl an investment advisor. Please note that The Daily Hodl participates in affiliate marketing.

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Bitcoin sees ‘non-stop’ end-of-year buying as 10K BTC leaves Coinbase in a single day

by Cointelegraph

Almost 10,000 Bitcoin (BTC) left major United States-based exchange Coinbase on Dec. 30 in a sign that investor appetite is returning to the sphere. 

Data from on-chain monitoring resource Coinglass shows Coinbase’s professional trading arm, Coinbase Pro, shedding 9,925 BTC in the 24 hours to New Year’s Eve.

Binance adds 66,000 BTC in December

The buy-in, which runs in contrast to rising or flat balances on other major exchanges, marks a conspicuous short-term trend shift.

The latter half of December has been characterized by platforms such as Binance and OKEx seeing increased inflows of BTC — something commentators feared could be a forewarning of a sell-off.

While such a mass sale of BTC has not yet occurred, not everyone believes that it will stay that way.

At the same time, the exodus of registered Chinese users from exchange Huobi Global could be triggering a reorganization of funds, a more recent theory suggests.

According to Coinglass, Binance is up 840 BTC as of Friday, while OKEx has seen 767 BTC inflows. Huobi has lost a mere 158 BTC, but in December as a whole, a giant 14,044 BTC has left its books, hinting at the extent of the Chinese user exodus.

On the monthly view, Binance easily wins in terms of inflows, now up over 66,000 BTC versus the end of November.

Nonetheless, it was Coinbase attracting pundits as 2021 drew to a close.

“Coinbase buying has been pretty nonstop today,” popular Twitter trader Ryan Clark summarized.

Bitcoin exchange BTC balance summary as of Dec. 31. Source: Coinglass

An institutional “flippening” is coming

Beginning in early January after the holiday period, institutions are meanwhile predicted to reenter the limelight when it comes to BTC ownership.

Related: First US Bitcoin ETF a ‘dud’ in 2021 as GBTC discount stays near record lows

In its end-of-year summary and 2022 forecast report, “Just Crypto,” trading firm QCP Capital announced a “flippening” in the investor sphere from retail to institutional.

“In 2022, the first thing we expect to see is a major flippening of crypto ownership from primarily retail to institutional players, with institutions having a much larger participation,” it stated.

Such an event would see big players unfazed by recent price action, with BTC spot allocations still outperforming assets such as crypto stocks in 2021.