Whales Accumulate Ethereum (ETH) and Other Altcoins Amid Market Surge

• The cryptocurrency market kicked off the new week with a surge, as whale activities created waves that captured investors’ attention.
• Particular focus was seen on Ethereum (ETH), Fantom (FTM), PEPE coin, and Solana (SOL) due to their significant movements.
• Notably, a smart whale purchasing ETH after making substantial profits grabbed headlines.

Discover the latest movements in the crypto market as whales shift focus to Ethereum, Fantom, PEPE, and Solana, shaking up the investment landscape.

Ethereum Whales Continue Accumulating ETH

According to Lookonchain data, a savvy Ethereum whale, after securing a $76 million profit, made a strategic move. The whale purchased 7,000 ETH worth $26.7 million through Binance at $3,814 per ETH. This action has reinforced bullish expectations in the ETH market, as this whale now holds an estimated 36,785 ETH (approximately $141 million) in assets and has recorded a profit margin of +57.9%.

Significant Whale Activity in Fantom (FTM) and Arbitrum (ARB)

Apart from Ethereum, investor activity has also shifted towards Fantom (FTM). One whale investor withdrew 2.96 million USDC from the Aave platform to purchase 2.82 million FTM at $0.79 each, reflecting rising investor interest in FTM.

Additionally, substantial movements were noted in Arbitrum (ARB). Institutional investors like The Data Nerd, Wintermute, and GSR collectively deposited 3 million ARB tokens (approximating $3.3 million) into Binance on June 4, further highlighting growing confidence in Arbitrum.

Impressive Returns for PEPE Coin Investor

In the realm of PEPE token, an investor made noteworthy gains. According to Lookonchain, a new wallet transferred 365.96 billion PEPE from the MEXC exchange to Binance within a six-month period, witnessing a return on investment of 976%. The initial $494,000 investment surged to a value of $5.3 million.

Justin Sun’s Investment in LRT PT

Notable crypto figure Justin Sun made headlines with his 18,000 ETH investment (worth approximately $67.86 million) in three LRT PTs maturing on June 27. These investments, carrying a 17%-21% fixed annual yield, were made through the 0x7a9 address and are anticipated to generate 220.7 ETH (around $830,000) in profits, exemplifying Sun’s strategic moves towards high-yield investment vehicles.

Major Moves in Solana and GME Purchases

Significant activity was also seen in the Solana (SOL) market. A newly created wallet expended 12,110 SOL (around $2 million) to purchase 135 million GME tokens at an average price of $0.0148, positioning this wallet as GME’s fourth-largest holder. This wallet’s activity, funded via Coinbase, indicates increasing investor interest in projects built on Solana.

Huge ALICE Transfers from My Neighbor Alice

The My Neighbor Alice (ALICE) token also witnessed notable whale activity. An ALICE-related wallet transferred 3.09 million ALICE tokens to Binance, valued at approximately $7.91 million. Despite a 15.7% drop in ALICE’s price since its initial exchange transfer, the wallet continues to hold 3.99 million ALICE (worth approximately $9.23 million), underscoring investor confidence in the token’s potential recovery.

Conclusion

These significant whale movements in Ethereum, Fantom, PEPE coin, Solana, and My Neighbor Alice showcase a vibrant crypto market driven by strategic investments. Such activities not only reflect current market sentiment but also provide a glimpse into the evolving tactics of major players. Investors should closely monitor these trends for potential opportunities and risks.