As reported by various monitoring sources, in the flurry of significant transactions recorded on August 24, the altcoin market has witnessed significant activity from prominent whales. Known for their huge impact on the market, these whales made various transactions involving different cryptocurrencies. Here are the details…
Whales focus on altcoin Ethereum
According to Lookonchain observations, the famous whale address smartestmoney.eth made strategic moves on August 24. Whale borrowed a staggering 10 million USDT from AAVE and then transferred 5,500 ETH from Binance. This transaction, amounting to approximately $9.24 million, demonstrates smartestmoney.eth’s active participation in the market and its tendency to diversify its assets.
smartestmoney.eth(@smartestmoney_) is long $ETH on #Aave.
He borrowed 10M $USDC from #Aave and deposited to #Binance.
Then withdrew 5,500 $ETH($9.24M) from #Binance 5 hrs ago.https://t.co/alPmy8h9Z9 pic.twitter.com/ArYsK4FOF4
— Lookonchain (@lookonchain) August 24, 2023
Continuing its hoarding spree, the same whale address smartestmoney.eth bought another 2,000 ETH from Binance, worth about $3.36 million, just two hours after its first transaction. smartestmoney.eth has amassed a total of 42,800 ETH since May 8, making an impressive stack of around $72 million. This consistent buildup may highlight the whale’s confidence in Ethereum’s long-term prospects.
A giant whale bought 2,000 $ETH ($3.36M) from #Binance again 2 hrs ago.
The whale has withdrawn a total of 42,800 $ETH ($72M) from #Binance since May 8.
Seems to be accumulating $ETH for the upcoming bull run.https://t.co/bJtc42cPrl pic.twitter.com/Nf4M7wXW3G
— Lookonchain (@lookonchain) August 24, 2023
AAVE, LDO and UNI acquisition draws attention
Spot On Chain data tracking revealed that another key whale address identified as “0xa38c” showed an appetite for various tokens on August 24. Whale invested a total of $4 million to purchase UNI, LDO, and AAVE tokens. These purchases include the whale, 17,203 AAVEs worth approximately $1 million; 413,726 UNIs worth approximately $2 million; and acquired 593,139 LDOs worth approximately $1 million. This move demonstrates 0xa38c’s interest in different DeFi projects and tokens.
🚨 Whale 0xa38c swapped a total of 4M $USDT to $UNI, $LDO and $AAVE over the past hour:
17,203 $AAVE at ~$58.1 ($1M)
413,726 $UNI at ~$4.83 ($2M)
593,139 $LDO at ~$1.69 ($1M)
Notably, the whale received 1,036 $ETH and 5.93M $USDT from address 0xB17 127 days ago, which… pic.twitter.com/Di9oZaLyT7
— Spot On Chain (@spotonchain) August 24, 2023
Lookonchain tracking data showed that four key whale addresses saw a notable increase in ETH holdings over the past week, resulting in an increase of 56,100 ETH, equivalent to approximately US$94 million. Notable contributors to this increase included “0x3CEE”, “0x3478”, “0x5bA3” and the previously mentioned smartestmoney.eth addresses. Of these, “0x3CEE” increased their holdings by 18,000 ETH, “0x3478” added 2,000 ETH, “0x5bA3” increased their holdings by 17,900 ETH, and smartestmoney.eth gained another 18,200 ETH. This collective effort by these whales points to a bullish sentiment towards Ethereum and its potential growth.
Whales are accumulating $ETH from the bottom!
4 whales accumulated 56.1K $ETH ($94M) in the past 7 days.
– 0x3CEE accumulated 18K $ETH($30M);
– 0x3478 accumulated 2K $ETH($3.4M);
– 0x5bA3 accumulated 17.9K $ETH($30M);
– smartestmoney.eth accumulated 18.2K $ETH($30.6M). pic.twitter.com/M93Mhkpn6p
— Lookonchain (@lookonchain) August 24, 2023
Altcoin whales are quite active
In summary, August 24 witnessed significant activity among crypto whales with strategic moves, altcoin purchases and consistent ETH accumulation. These actions provide insight into the strategies and sentiments of influential players in the crypto space and further highlight the dynamic nature of the market. As the cryptocurrency world continues to evolve, the actions of these whales will undoubtedly continue to be watched closely and will shape the direction of the market in the days ahead.
