- Over the weekend, crypto whales reportedly withdrew large amounts of digital assets from Binance, the world’s largest crypto exchange by volume.
- Blockchain tracking firm Lookonchain reported that the withdrawn assets included Chainlink (LINK), Pepe (PEPE), Uniswap (UNI), Maker (MKR) and Ethereum Name Service (ENS).
- Web3 investment firm DWF Labs also transferred $2 million worth of the stablecoin USDC to a multi-sig safe wallet that already holds 10 million Polygon (MATIC) tokens.
Crypto whales make significant withdrawals from Binance, with Chainlink, Pepe, Uniswap, Maker, and Ethereum Name Service being the most affected. DWF Labs also transfers $2 million in USDC to a multi-sig safe wallet.
Whales Accumulate Digital Assets
According to Lookonchain, crypto whales withdrew significant amounts of PEPE, LINK, UNI, MKR, and ENS from Binance. Notably, 0x1A2E withdrew 322.48 billion PEPE ($2.78 million) on May 4th, while aavebank.eth withdrew 500,000 UNI ($3.75 million), 183,799 LINK ($2.62 million), 171 MKR ($500,000) and 31,139 ENS ($483,000) on the same day.
DWF Labs’ Significant Transfer
Lookonchain also reported that web3 investment firm DWF Labs transferred $2 million worth of the stablecoin USDC to a multi-sig safe wallet that already holds 10 million Polygon (MATIC) tokens. This move is noteworthy as it signifies a significant investment in the Polygon network.
Whitelisted Wallets Gain on Meme Asset
Last month, Lookonchain found that two whitelisted wallets printed staggering 30,080x gains on a meme asset built on Base, Coinbase’s Ethereum (ETH) layer-2 scaling solution. The wallets spent 0.034 ETH worth $102 to buy a combined 172.56 million BRETT (BRETT) in February. They later sold the BRETT for 890.65 ETH worth $3.14 million for massive gains.
Conclusion
The recent activity of crypto whales on Binance and the significant transfer by DWF Labs highlight the dynamic nature of the crypto market. As the market continues to evolve, these developments provide valuable insights into the strategies of major players in the crypto space.
