Scarlet Witch, the 74th largest whale in the Binance Smart Chain ecosystem, bought $600 million worth of cryptocurrencies today. The whale’s transactions covered 5 altcoin projects. After the massive purchase, it made an unprecedented transaction. Let’s examine together.
Whale invests $600M in altcoin projects
According to WhaleStats, a BNB whale named “Scarlet Witch” is worth $242.5 million in a single transaction purchased approximately 10 million Avalanche (AVAX) tokens. This was the largest whale transaction Whalestats has recorded in the last 24 hours. Following the transaction, AVAX ranked among the top 10 tokens by trading volume among the largest BSC whales. The Avalanche token price has dropped about 5% in the last 24 hours. Recently, AVAX announced that Chainlink Keeper and Chainlink VRF are live on their primary networks. The whale wallet also added a large amount of Polygon (MATIC) tokens. Accordingly, the BNB whale bought 200 million altcoin MATIC. Thus, he invested 128 million dollars in MATIC. Polygon token prices have increased by 2% in the past day. MATIC is currently trading at an average price of $0.64.
“Scalet Witch” continued to buy after this big purchase. The wallet added 2.8 billion TRON (TRX) tokens worth $226.2 million to its basket. TRX token prices have increased marginally in the last 24 hours. Accordingly, TRX is trading at an average price of $ 0.081. After the transaction, the altcoin became one of the 10 most invested tokens by BNB whales. As reported by Cryptokoin.com , Scalet Witch also purchased $31.6 worth of Dogecoin (DOGE). In this transaction, he has accumulated approximately 400 million DOGE. Finally, the whale turned to the WINkLink (WIN) token. Thus, he bought a total of $2.7 million worth of WIN coins.
Scarlet Witch burns millions of dollars TRX and MATIC
Balina bought 2.8 billion altcoin Tron, which it bought. Then, according to Etherescan.io reports, he sent the entire accumulated token, i.e. 2.80 billion TRX, to the “Blank Address” in a crucial transaction. The crypto community began to question why the whale made such a move. Thus, it turns out that the whale does this every year. It turns out that exactly one year ago, Scarlet Witch burned a total of 11.10 billion TRX in a single noteworthy transaction by sending it to an empty address. According to the data, the 74th largest BNB whale no longer holds altcoin Tron in its wallet at all. The current circulating supply of TRX stands at 92.79 billion units.
As we mentioned, the whale purchased 200 million MATIC tokens worth $128 million. Etherscan.io also confirmed that after the massive accumulation, the whale removed 200 million MATICs from circulation forever with a significant OUT operation. Like Tron, the whale’s Polygon burning was not the first. Previously, Scarlet Witch had burned 1.70 billion altcoins MATIC worth $1.08 billion at the start of 2022. The burning came after the whale bought 400 million Dogecoins worth $31.6 million.
