Crypto Whales Stir Market with Massive Transactions: What You Need to Know
Yesterday, several notable transactions by crypto whales have been observed, sparking curiosity among market watchers. Here’s a rundown of the major movements.
An analyst from Onchain Lens has highlighted a significant deposit of 659,415 Chainlink (LINK) tokens, valued at approximately $9.42 million, into Coinbase. This large holder stands to make a profit of $3.53 million if the tokens are sold.
The investor has been building this position over the past two years, withdrawing a total of $5.85 million worth of LINK, signaling a strategy of long-term accumulation ahead of this move.
Meanwhile, a prominent Ethereum whale, an early ICO participant, broke a seven-year silence by transferring 1,700 ETH (worth around $3.18 million) to Binance. This individual originally purchased the ETH at a mere $0.31 per token, highlighting a significant gain.
In another notable transaction, a whale moved 8.7 million LAYER tokens (valued at $11.13 million) to Binance. This investor had accumulated these tokens in two separate wallets for a total cost of $6.5 million, meaning the transaction brought in a profit of $4.63 million. The move followed a month-long waiting period.
Additionally, the US government transferred 97,336 BTC (worth $8.46 million) and 884.33 ETH ($1.77 million) from assets linked to the Sae-Heng Forfeited Funds. These crypto holdings were seized as part of an investigation into a sophisticated crypto scam, often referred to as a “pig butchering” scheme, which targeted US investors. Initially seized from a Binance account linked to Wanpadet Sae-Heng, the assets were moved into a government wallet after being directly transferred from Binance two years ago.
Editorial Team
Reporter at Coindoo
