Multiple on-chain reports today confirmed that whales panicked during the recent market correction. Ethereum (ETH), in particular, has seen a series of sales exceeding $50 million in size. Meanwhile, names like MATIC and PEPE welcome their new buyers…
Giant whale sold $30 million worth of Ethereum (ETH) today
Recently, after the latest market crash, a whale sold 16,751 Ethereum worth about $30.8 million on Binance. According to Lookonchain’s report, the whale sent its ETH reserves to Binance and then exchanged it for Tether (USDT). Shortly after, he withdrew 30.8 million USDT to his wallet. He then deposited 30.8 million USDT to Aave and Compound through 2 addresses.
A whale dumped 16,751 $ETH ($30.8M) after the market crashed.
The whale deposited 16,751 $ETH to #Binance and withdrew 30.8M $USDT, the selling price is ~$1,840.
Then deposited 30.8M $USDT to #Aave and #Compound through 2 addresses. https://t.co/wZQSXCvIA0 pic.twitter.com/O0FP3Egiy7
— Lookonchain (@lookonchain) July 25, 2023
Lookonchain also reports that after the recent crash, whales panicked selling WBTC and ETH. The highlights were as follows:
- The giant whale address “0x700b” sold 150 WBTC ($4.36 million) for an average price of $29,053
- The whale named “0x0121” sold 3,967 ETH ($7.32 million) at an average price of $1,846
- “0x390c” sold 7,115 ETH (about $13.12 million) at an average price of $1,844.
Whales dumped $WBTC and $ETH in panic after the market crash yesterday!
– Whale"0x700b" dumped 150 $WBTC ($4.36M) at $29,053.
– Whale"0x01214" dumped 3,967 $ETH ($7.32M) at $1,846.
– Whale"0x390c" dumped 7,115 $ETH ($13.12M) at $1,844. pic.twitter.com/aJZrh7loXx
— Lookonchain (@lookonchain) July 25, 2023
In another transaction, another whale transferred 2196 ETH to Binance. It currently holds 22,340 ETH ($41.25 million). Whale had cashed out all the ETH he had previously transferred to Binance shortly after.
这个鲸鱼在 9 小时前将 2196 $ETH($4.06M)转进了币安，这是准备要开始出了吗？
不过他之前的习惯是：分批买入，卖出一次性将全部 ETH 转入币安，完成一次 ETH 波段。
他目前还持有 22340 ETH($41.25M)，可以关注他的后续操作，看他是否会破不败金身😂推文由 @LionDEX_CN 赞助 https://t.co/Mdd0vuhEPS pic.twitter.com/pOSmidm2zB
— 余烬 (@EmberCN) July 25, 2023
Meanwhile, among the altcoins that are selling is XRP. According to reports, sales of Ripple, the company behind XRP, have continued to increase for the past two years. This year, the fintech giant sold 37% more XRP per month than in 2022. This development increased both bullish sentiments and concerns.
According to the data, Ripple has sold an average of 315 million XRP every month since January. Notably, the circulating supply of XRP stood at 50,334 billion at the start of this year. However, due to monthly escrow releases and XRP sales, this figure has increased to 52.554 billion. This marks a 4.4% increase in circulating supply and an additional 2.22 billion XRP this year.
Ripple sold 2.22 billion xrp since 2023 started. That's about 315 million per month. About 50% more than the usual 200 million in 2022. Now the crying is about to start. But I can reassure you. It is not XRP Tards who have bought these 2.2 billion XRP and XRP has outperformed… pic.twitter.com/smkjqj1BwM
— Mr. Huber🔥🦅🔥 (@Leerzeit) July 24, 2023
XRP offers optimistic metrics in the overall picture
The good news for XRP is that whale wallets are getting more full than ever. According to Santiment, the number of whale wallets holding more than 100 million XRP worth over $74 million has recently increased amid an accumulation trend where large XRP whales hit an 11-week high.
🐳 The amount of #XRP whale wallets holding 100M+ coins (at least $74M) is up to 199, matching the most wallets since May 13. The #4 market cap asset has been a top July trending topic, and $XRP has shown moderate price correlation with these fluctuations. https://t.co/XOLhJjttwI pic.twitter.com/iSBKG9pIPH
— Santiment (@santimentfeed) July 23, 2023
Santiment’s data indicates a slippage with the rise in accumulation in July 2023, with the XRP price hovering around $0.7387. This follows a sell-off period where the number of major investors fell below 200. Historical data showed that in the last 30 days, the number of active XRP addresses has increased by over 23% and 43% compared to last year. These addresses, holding between 100,000 and 100 million XRP tokens, have accumulated approximately 838 million XRP tokens since May.
These coins are gaining traction as ETH whale wallets move away
Dogecoin (DOGE)
According to the data, Dogecoin whales have been busy accumulating in recent weeks. On-chain analyst Ali Martinez reports that whales have purchased approximately 3 billion DOGEs worth $225 million in the last 3 weeks.
#Dogecoin whales bought around 3 billion $DOGE over the last three weeks, worth $225 million! pic.twitter.com/y4VC6nT9EK
— Ali (@ali_charts) July 24, 2023
Also, analytics platform Santiment reports that the new week is a good start for cryptocurrencies like SHIB, DOGE and APE. Dogecoin is in the focus of attention, especially with the expectation that Elon Musk will integrate into the new social media platform. cryptocoin.comWe have included the details of the development in this article.
🐶 The week has kicked off with some #memecoin magic, as #Dogecoin, #ShibaInu, & #Apecoin have enjoyed minor market cap rises. As is typically the case with these types of assets, high social volume spikes will signal tops. $DOGE excitement is heating up. https://t.co/Z0w3UXZDzz pic.twitter.com/h0mriBIpXh
— Santiment (@santimentfeed) July 24, 2023
Polygon (MATIC)
According to Whale Alert’s report, a giant whale recently transferred 14,999,000 MATIC ($10.749 million) from an anonymous wallet to the Polygon network for commitment. The whale will likely use its MATIC reserve for DeFi or staking.
🚨 14,999,000 #MATIC (10,749,787 USD) transferred from unknown wallet to Polygon Stakinghttps://t.co/7HWkXqlFU0
— Whale Alert (@whale_alert) July 24, 2023
a16z sends million dollar MKR to Coinbase
On-chain tracker Spot-On-Chain reports that venture capital giant Andreessen Horowitz (a16z) has sent over a million dollars in MakerDAO MKR to Coinbase every day for the past week.
According to the data, wallets belonging to a16z have deposited a total of 9,223 MKR worth about $9.7 million on the crypto exchange. The firm also stated that the MKR price dropped after deposits were made.
🚨 a16z (@a16z) deposited 1,380 $MKR to #Coinbase at $1,115 ($1.54M) 11hrs ago.
a16z has been depositing $MKR to #Coinbase daily for the past week (total: 9,223 $MKR at $1,055 on avg, ~$9.73M)
and $MKR price seemed to drop post-deposits.
a16z still holds 16,536 $MKR ($17.62M). https://t.co/e7D1yNDmML pic.twitter.com/1ALpzvWWcP
— Spot On Chain (@spotonchain) July 24, 2023
Meanwhile, MakerDAO founder Rune Christensen was also collecting MKR in the same process. Last week, it traded a total of 1.61 million DAI for MKR at an average price of $998.
Giant whale pulled 4.6 trillion PEPE from Binance
According to Spot-On-Chain data, the giant whale address, which started with 0xa54, bought 4.6 trillion PEPE from Binance in the new week. The trades came during the hours when the PEPE price was trading at an average of $0.000001409. In total, the whale collected $6.47 million worth of PEPE.
🚨 Whale 0xa54 re-accumulated 4.6T $PEPE from #Binance at $0.0₅1409 on avg ($6.47M) over the past 38hrs.
Notably, it has a win rate of only 33.3%:
+$614K (9.55%) from $PEPE
-$260K (-7.93%) from $BNB
-$89K (-13.4%) from $LINK💰 Total gains: $264.4Khttps://t.co/NRytzpx5Hd pic.twitter.com/egaE7dVxLk
— Spot On Chain (@spotonchain) July 25, 2023
1087 BTC transfer to Binance
According to Lookonchain’s report, a giant whale transferred 1087 BTC to Binance wallet in the past hours. The whale transferred approximately $31.6 million in this transaction. The deep-pocketed investor had collected 38,000 BTC from Binance and Huobi in 2022 at an average price of $19,267. During this period, he bought $734 million worth of BTC. He then deposited 15,000 BTC on Binance for an average price of $26,956 in 2023. As Bitcoin price hovers around $29,000, he is probably preparing for a sale by transferring his investment back to the stock market.
