- The cryptocurrency market has witnessed notable moves by major players over the last 24 hours.
- Large transfers by whale investors have caused fluctuations, with concerns of selling pressure on XRP.
- Here’s the latest on STRK coin and other cryptocurrencies making waves.
Discover the latest movements in the crypto market with updates on whale transfers affecting major coins like XRP and STRK.
Uniswap and Ethereum Whale Executes Large Transfer to Binance
According to data tracked by The Data Nerd, a wallet (or two wallets belonging to the same whale) moved 427,600 UNI (approximately $4.74 million) to Binance. These tokens, purchased on May 24 at an average price of $9.33, could yield a profit of $750,000 if sold at the current market rate.
Notable Ethereum Withdrawal
The Data Nerd also reported that the whale with the address 0x454 unstaked 1,127 ETH (around $4.40 million) from Tranchess, subsequently depositing the entire amount to Binance. These ETH were accumulated last year at an average price of $1,756, potentially leading to a profit of $2.06 million if sold now.
Dormant Quant Investor Re-Activates Wallet and Transfers to Kraken
Tracked by @ai_9684xtpa, a wallet belonging to an early Quant investor, inactive for five years, became active last month. Today, it transferred $9.76 million worth of QNT to Kraken, suggesting a possible upcoming sale. The wallet originally received 321,580 QNT from Quant’s multi-signature address on June 25, 2018. Most recently, between May 24 and June 3, 2024, it sold 8,050 QNT (valued at $740,000) via MetaMask, leaving 200,000 tokens worth $16.55 million.
Activity in XRP and STRK Coins
Spot On Chain data revealed that wallet 0x09903 (likely associated with the Starknet team) transferred 2.6 million STRK (valued at $2.42 million) to Wintermute Trading OTC six hours prior. This wallet had received 149.5 million STRK ($530 million) from the StarkNet: Token Distributor contract a year and two months ago. Last month saw a similar transfer, with 7.475 million STRK (around $8.729 million) being moved over the last three months.
Moving to XRP, recent price recoveries have sparked concerns about increased selling pressure, driven by substantial whale transfers to exchanges. Within the last 24 hours, a whale moved 30.35 million XRP to exchanges, potentially leading to increased supply and downward pressure on XRP’s price. XRP is currently trading at $0.4872, with a 24-hour trading volume of $661,747,811.30, marking a 0.38% decrease from the previous day and a 2.04% drop over the past week. Despite recent declines, positive developments around XRP Ledger (XRPL) offer some market optimism.
Conclusion
The recent activities by major crypto players reveal dynamic movements that could impact market trends. Uniswap and Ethereum whales show significant profit potential, while dormant Quant holdings suggest possible market shifts. STRK and XRP transfers point to strategic selling decisions that could affect their prices. Staying informed on these movements is crucial for market participants to make well-informed decisions.
