On-chain Data is Here: What Trades Are Whales Making Ahead of Possible Approval of Bitcoin Spot ETFs?

In the hours before the highly anticipated approval of the Bitcoin Spot ETFs, on-chain data reveals that some cryptocurrency whales are making significant moves.

Whale 0x781 became active in the Ethereum market by selling 419.796021 WETH for 1 million USDC at an average price of $2,390. Over the past 5 days, it sold a total of 1.19 thousand WETH equivalent to $2.89 million at an average price of $2,440.

The whale with address 0xtdb made a significant deposit of 17.3 million USDT to Kraken. These tokens were purchased from Tether Treasury just one hour before being deposited at an average price of $1,0006922666. Over the past 6 days, 0xtdb deposited a staggering 261.62 million USDT to centralized exchanges in 32 transactions. Despite these large deposits, the whale still has a balance of 39.42 million USDT.

The whale with address 0xd78 withdrew 300 thousand OKBs worth $16.18 million from OKX. Remarkably, the wallet had deposited 348.18 thousand OKB into OKX 1 year 7 months ago.

The whale with address 0xe87 will likely deposit 5.14 million GMT ($1.65 million) to Binance. The wallet had withdrawn 1.43 million GMT from Binance 12 days ago.

The whale with address 0x006e recently attracted 2.6 million 1INCH ($1.08 million) from Upbit. In total, he has withdrawn 4.26 million 1INCH ($1.77 million) from CEX via 6 transactions in the last 6 days.

*This is not investment advice.

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