In the cryptocurrency world, whale movements can often be an important indicator of market trends. In the past few days, there have been several notable transactions that indicate a potential shift in the market. In particular, the coins bought by whales selling Wrapped Bitcoin (WBTC) and Ben (BEN) attracted attention. Here are the details…
A whale bought PEPE coin
On May 10, data platform Lookonchain reported that “Brother Maji” Huang Licheng purchased another 6 billion PEPE tokens, bringing its total purchase to 6.6 billion in just three days. Purchases were made with 73.4 ETH, equivalent to approximately 137,000 USD, with an average purchase price of $0.000002082. This large purchase could indicate a bullish sentiment for the PEPE token and potentially lead to an increase in its value.
Machi Big Brother bought 6B $PEPE again 30 mins ago.
He has bought a total of 66B $PEPE with 73.4 $ETH ($137K) in the past 3 days, with an average buying price of $0.000002082.https://t.co/8TP6j6unZw pic.twitter.com/Ubmg3ZC1rm
— Lookonchain (@lookonchain) May 10, 2023
NGC Ventures founder BEN sold
Meanwhile, NGC Ventures co-founder “rogerlim.eth” is making its own moves, according to Lookonchain tracking data. He bought 2.78 trillion BEN for 7,000 USDT and sold 1.14 trillion BEN for 75,000 USD, resulting in 1.64 trillion BEN for 162,000 USD. This move resulted in a staggering 33x return on his investment, with a profit of approximately 230,000 USD. It also purchased 883 million FOUR tokens at $0.00005358 and 17.3 billion DERP tokens at $0.000001213 for a total of $68,260.
rogerlim.eth bought 883M $FOUR( cost:$47,304) at a price of $0.00005358 and bought 17.3B $DERP( cost:$20,956) at a price of $0.000001213.https://t.co/w02rphqrUC pic.twitter.com/iRitPBmw2D
— Lookonchain (@lookonchain) May 9, 2023
SpotOnChain: Two whales Sell WBTC
On the other hand, Spot On Chain reported that the two big whales sold 231 WBTC, equivalent to approximately $6.38 million USD. cryptocoin.com As we have also reported, these moves took place on the eve of the release of the US CPI data. Whale 0xc554 sold 131.3 WBTC for $27,570, converting it to 3.62 million USDC. The other whale, 0xEE5c, has sold 100 WBTC at a price of 27,600 USD in the last 13 hours. It also converted into 1.38 million USDC and 7.458 million ETH. In other words, it achieved a total value of 2.76 million USD. So, will the sale mean a bearish bias for WBTC? Will it potentially lead to a drop in value? Time will show that.
🚨🚨CPI is announced in 6.5 hrs, 2 whales seem bearish and dumped 231 $WBTC ($6.38M):
➡️ Whale 0xc554 (made $825K in $SNX) sold 131.3 $WBTC for 3.62M $USDC at $27,570 3 hrs ago
➡️ Whale 0xEE5c sold 100 $WBTC for 1.38M $USDC and 745.8 $ETH (total: $2.76M, avg sell price:… pic.twitter.com/CQZ7GY3eZl
— Spot On Chain (@spotonchain) May 10, 2023
These whale movements highlight the volatile nature of the cryptocurrency market. Large transactions often have a significant impact on the overall sentiment of the market. Investors need to be careful when making investment decisions. They are also advised to consider both bullish and bearish signals when evaluating market trends. It is unclear whether these whale movements will have a lasting impact on the market. However, it still provides valuable insight into the current state of the cryptocurrency market.
