Three Giant Altcoin Whales Traded $109 Million Today: What Are They Thinking?

In the past 24 hours, three long-term Ethereum traders and funds transferred 32,527 ETH, equivalent to $109 million, to centralized exchanges (CEX).

This move raised several doubts among market observers who wondered whether these ‘whales’ believed that the latest market correction had not yet reached its extreme.

The first of these was a whale known as the iExec RLC altcoin team multisig 0x213 wallet, which deposited 12,500 ETH, worth approximately $41.7 million, to Kraken 8 hours ago. At the time of the transfer, the price of Ethereum was around $3,339. This wallet first received a significant amount of Ethereum, totaling 120.9 thousand ETH, from white hat hacker baylina.eth in July 2017. The current asset of the wallet in question is 12.2 thousand ETH and its value is 40.9 million dollars.

The second whale, known by the short address 0x50b, transferred the last 11,600 ETH worth $39.1 million to Binance in the last 22 hours. At the time of the transfer, the price of Ethereum was approximately $3,374. This wallet first received Ethereum in December 2017. In a significant move, the wallet deposited all 32.6 thousand ETH into Binance at a price of approximately $3,312, making a total of $108 million. He withdrew 80 million USDT to his external wallet in the last three days.

The third Wallet, Metalpha multisig 0x435, transferred 8,427 ETH worth $28.2 million to Binance just an hour ago. At the time of the transfer, the price of Ethereum was $3,347. This wallet first received Ethereum in July 2021. The wallet’s current assets are recorded at 62.3 thousand WSTETH worth $242 million.

*This is not investment advice.

Source