An unknown investor with a historical past of savvy trades has deposited $16 million value of stablecoins into Binance, doubtlessly to buy extra crypto belongings.
First noticed by blockchain-tracking agency Lookonchain, the whale has already made three extraordinarily clutch trades prior to now, together with promoting Ethereum (ETH) at a neighborhood high, buying and selling USDC for ETH earlier than it misplaced its greenback peg and withdrawing all of its funds from crypto alternate FTX proper earlier than the bankrupt centralized platform suspended person withdrawals.
“A wise whale deposited 16 million USDC to Binance…
The sensible whale:
Dumped 34,000 ETH ($65.4 million) when the worth was $1,930.
Exchanged USDC for ETH in the course of the USDC de-pegging.
Withdrew all belongings from FTX earlier than FTX suspended withdrawals.”
At time of writing, it’s nonetheless unclear what the whale did or plans to do with the $16 million value of dry powder now on Binance.
Lookonchain additionally noticed a whale withdrawing seven figures value of the decentralized oracle community Chainlink (LINK) from the crypto alternate Kraken, including to its $9.67 million LINK withdrawal streak.
“A whale withdrew 353,500 LINK ($2.14M) from Kraken once more…
The whale has withdrawn a complete of 1,588,500 LINK ($9.67 million) from Kraken prior to now three months.
The common withdrawal worth is $6.78.”
The blockchain tracker additionally noticed wallets belonging to crypto buying and selling agency Soar Buying and selling and recognized 4 altcoins being amassed by the corporate, together with the liquid-staking service supplier Lido DAO (LDO), the decentralized social community Masks Community (MASK), the decentralized derivatives platform Perpetual Protocol (PERP) and the decentralized leveraged buying and selling protocol LeverFi (LEVER).
“Soar Buying and selling has been accumulating MASK, LDO, LEVER and PERP over the previous week.
Soar Buying and selling at present holds:
1.59 million MASK ($6.15million);
1.09 million LDO ($2.11million);
509 million LEVER ($686K);
1.07 million PERP ($545K).”
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Featured Picture: Shutterstock/Tithi Luadthong/Iryna_Khomenko