Although the crypto money market has calmed down again after the active end of August, whales continue to make big transactions. Blockchain tracker Lookonchain reveals which altcoins whales are interested in with its shares on the X account.
According to Lookonchain’s post hours ago, a large altcoin investor has purchased a large amount of Ethereum (ETH) on Binance. Whale pulled 9,689 tokens worth $15.8 million into its wallet this morning.
The smart whale withdrew 9,689 $ETH($15.8M) from #Binance again just now.
The whale deposited 36M $USDT to #Binance and withdrew a total of 19,508 $ETH($32M).https://t.co/kU0oYxF1zg pic.twitter.com/tKujwfI17y
— Lookonchain (@lookonchain) September 6, 2023
The giant investor’s only move was not limited to this morning. Lookonchain found that the same account also made a large purchase of altcoins on Tuesday. According to the data, the crypto whale bought a total of 19,508 Ethereums on the Binance exchange and transferred them to its own wallet address.
Thus, the total transaction volume of the whale was approximately 32 million dollars. In the Lookonchain post, he commented that the ETH whale is “buying from the bottom”.
Ethereum Price
Ethereum, the largest altcoin (excluding stablecoins) by market cap, hasn’t been showing much divergence from Bitcoin lately.
ETH has been trying to stay above the $1,629 support level for a long time. The altcoin whale seems to believe that this level will not be broken down and bought. Especially, 4 consecutive 4-hour closings below $1,600 may push the price down further.
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