Cryptocurrencies are navigating a stagnant market for now. However, whales do not let go of the tokens they have their eye on. A whale addicted to LDO took a long position in the altcoin, on-chain analytics platform Lookonchain reported. Besides, Whale Alert says that Bitcoin and XRP whales are on the move.
The LDO whale is not satisfied with the snow, he wants more!
cryptokoin.com As you follow from , the drama surrounding Binance set the agenda for the week. However, the market has recovered from the shock of this event and is moving on. However, as we move towards the weekend, there is a sentiment in the market for now. In the midst of this recession, a Lido whale took a long position in LDO, on-chain analytics platform Lookonchain reported. Lookonchain states that this whale has been accumulating LDO since October. He also emphasizes that the whale made a profit of $1.4 million from this altcoin investment. In this context, Lookonchain shared the following:
A whale took a long position on LDO. This whale has purchased a total of 2 million LDO ($3.6 million) since October 2 at approximately $1.79. He made a profit of $1.4 million at the current price. Whale deposited the entire 2 million LDO ($5 million) into Aave and borrowed 1.56 million USDT to purchase more LDO.
A whale is long $LDO.
This whale bought a total of 2M $LDO($3.6M) at ~$1.79 since Oct 2, with a profit of ~$1.4M at the current price.
The whale deposited all 2M $LDO($5M) to #Aave and borrowed 1.56M $USDT to buy more $LDO.https://t.co/msOCypGH8i pic.twitter.com/p6bmAeVo76
— Lookonchain (@lookonchain) November 24, 2023
Bitcoin and these altcoin whales have increased their activities!
XRP and Bitcoin (BTC) whales have made multiple mega token transfers in the last 24 hours. So, they are in intense activity today. Whale watching platform Whale Alert reports that Bitcoin whales moved over $55 million in BTC in a single transaction. It also notes that it carries $31 million worth of altcoin XRP.
One Bitcoin whale in particular transferred a total of 1,500 BTC ($55,911,311) from a Bitfinex-linked account to another wallet on the exchange. Besides this particular transaction, the crypto market was spooked yesterday when a Bitcoin trader paid over $3 million in fees for a single transaction. This whale intended to send 139.42495946 BTC worth $5.23 million. However, he received only 55.76998378 BTC worth $2,065,213.25.
🚨 🚨 🚨 1,500 #BTC (55,911,311 USD) transferred from #Bitfinex to unknown wallethttps://t.co/UWB12mKCyX
— Whale Alert (@whale_alert) November 23, 2023
Effects of these transfers on XRP and BTC prices
Whale Alert’s insights highlight two different XRP transactions. The first of these is the transfer of 25,200,000 XRP worth $ 15,665,402. The other involves the movement of 25,000,000 XRP worth $15,553,036. In both altcoin transfer transactions, the funds appear to be moved to Bitstamp and Bitso exchange platforms, respectively. This shows that some sales of assets are possible.
For this particular transaction, the amount involved is small relative to the actual liquidity that both cryptocurrencies have. Therefore, it is unlikely to significantly affect their prices. At the time of writing, Bitcoin was changing hands at $37,479.62, up 0.85% on a daily basis. Altcoin XRP rose by over 2% to $0.6211. This outlook is evidence that whale movements do not threaten market balance for either asset.
