- The cryptocurrency market continues to fluctuate due to significant investments and asset movements by whales (large investors).
- Notable developments in the last 24 hours include an investment in the memecoin Pepe (PEPE coin), the Ethereum Foundation’s ETH sale, and Bitcoin whales’ accumulation activities.
- These whale movements serve as important signals for investors, providing insights into general market trends and potential opportunities.
Explore the latest developments in the cryptocurrency market, with a focus on recent whale activities involving Pepe (PEPE coin), Ethereum (ETH), and Bitcoin (BTC).
Significant Movements for PEPE Coin
Pepe (PEPE coin), which experienced a significant rise and subsequent decline in recent times, is attracting attention. The data analysis platform, Spot On-Chain, detected that a whale, known as 0x546, purchased 331.3 billion PEPE (approximately $2.24 million) via the Binance exchange. This investment is particularly notable due to the whale’s use of a Binance deposit address, which indicates that they are a savvy investor who sold all their UNI assets before the price drop, thus making a profit. Over the past three days, the whale has withdrawn a total of 660.7 billion PEPE (approximately $4.57 million) from the Binance and MEXC exchanges. This activity suggests the whale’s long-term belief in PEPE and expectation of a price rise.
Ethereum Foundation Executes ETH Sale
The Ethereum Foundation sold 100 ETH (approximately $290,000) via Cowswap on May 2. This sale occurred parallel to the recent downward trend in ETH prices. Some analysts suggest that the sale was due to the Ethereum Foundation’s funding needs and could also be a precaution against general market uncertainty.
Bitcoin Whale Makes Noteworthy Purchases
A whale, known as 0x754…771d8, attracted attention with on-chain movements on May 2. The whale purchased 214.25 WBTC (approximately $12.33 million) at an average price of $57,557. The same address subsequently deposited 430 WBTC as margin on Aave, lent $12.22 million USDT, and raised the health level to 1.57. This activity demonstrates the whale’s belief in Bitcoin and desire to hold for the long term.
ETH and ARB Investments on Coinbase
Two significant investments were made on the Coinbase exchange in the last 24 hours. A whale deposited 11,119 ETH (approximately $32.36 million) on Coinbase. These ETH were accumulated two weeks ago at an average price of $3,134. If sold at the current price, a loss of $2.49 million would be incurred, indicating that the whale did not follow a successful long-term strategy. Additionally, a whale known as 0x8A4 transferred 4.5 million ARB (approximately $4.59 million) to Coinbase. This investor accumulated these tokens a month ago at an average price of $1.74 and would incur a loss of $3.24 million if sold at the current price. This suggests that the whale’s investment decisions are influenced by market fluctuations.
Conclusion
These whale movements in the cryptocurrency market serve as important signals for investors, providing insights into general market trends and potential opportunities. However, it is important to remember that the cryptocurrency market is a highly risky investment environment. Therefore, thorough research should be conducted before making any investments, and risks should be taken into account.
