Crypto:
30351
Bitcoin:
$64.112
% 0.24
BTC Dominance:
%54.1
% 0.13
Market Cap:
$2.34 T
% 0.00
Fear & Greed:
53 / 100
Bitcoin:
$ 64.112
BTC Dominance:
% 54.1
Market Cap:
$2.34 T

Bitcoin’s Decline Activates Altcoin Whales

Top Altcoins

The recent volatility in Bitcoin has stirred altcoin whales into action. Some whales took advantage of the dip to buy, while others capitalized on the rise to sell.

As Bitcoin surged past $71,000 last week, altcoins also saw gains. However, when Bitcoin dropped to $69,000, altcoins experienced sharp declines.

New Wallets Purchase UNI, BLZ, PEPE, and TRB

According to Lookonchain, five newly created whale wallets recently bought UNI, BLZ, PEPE, and TRB from Binance and OKX.

“New whale wallets are buying UNI, BLZ, PEPE, and TRB.

Wallet 0x3492 withdrew 870,827 UNI ($8.5 million) from OKX an hour ago.

Wallet 0xe841 withdrew 7.69 million BLZ ($2.16 million) from Binance an hour ago.

Wallets 0x81cC and 0xf226 withdrew 303.4 billion PEPE ($3.8 million) from Binance and OKX 11 hours ago.

Wallet 0x8499 withdrew 20,628 TRB ($1.9 million) from Binance 25 hours ago.”

Dormant Whale Sells MKR and AAVE for Profit

Spot On Chain reports that a dormant altcoin whale transferred 3,800 MKR (worth $9.3 million) and 20,000 AAVE (worth $4.45 million) to Binance for profit after holding for a year.

“A dormant whale, after holding for a year, transferred 3,800 MKR ($9.3 million) and 20,000 AAVE ($4.45 million) to Binance for profit!

If sold now, the profit would be $6.86 million (+281%) for MKR and $645,000 (+17%) for AAVE.”

Unfortunate Whale Sells ENA at a Loss

An unfortunate whale, thinking they were buying the dip, failed to sell their Ethena (ENA) during the rise and ended up selling at a loss following recent declines.

READ:  PEPE Continues to Rise Without Slowing Down

“This whale typically bought various altcoins before pumps but was not successful with timing.

Six days ago, just before the price rose above $1, this whale spent $1.6 million USDC to buy 1.62 million ENA.

With the price now down 23% (7D), the whale sold all ENA for only $1.32 million USDC.

This results in a loss of $283,000 (-17.6%) in less than a week.

Overall, this whale often bought tokens before pumps but failed to choose ideal exits.”

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