Global algorithmic trading company Wintermute Trading has transferred a large amount of Blur (BLUR) to centralized exchanges today. The trades came during the times when the Blur price rallied in the double digits. Meanwhile, whales are busy collecting 6 altcoins…
Wintermute Trading sends 10 million BLUR to Kraken
According to Lookonchain’s report, the company pulled 10 million BLURs worth about $4.2 million from Coinbase today. He then sent them to the Kraken wallet. After the BLUR rally, the algorithmic trading company deposited another 2.1 million BLUR worth $895,000 in Coinbase.
The unusual behavior of market makers is always worth noting.
The price of $BLUR suddenly skyrocketed by ~27% after the announcement that #Upbit would list $BLUR.
Wintermute Trading received 10M $BLUR ($4.2M) from #Coinbase Custody Wallet and deposited to #Kraken ~12 hrs ago. pic.twitter.com/g0KuuSq0qk
— Lookonchain (@lookonchain) June 27, 2023
Blur price jumps 30% on news of Upbit listing
Wintermute Trading, which was active during the rally, intensified its transactions during the hours when Korean exchange Upbit listed Blur. As of June 27, there has been a boom in trading activity involving BLUR in the Korean market. The listing announcement was followed by a spike in BLUR price and over 1000% increase in trading volume.
Wintermute Trading’s recent transactions, combined with previous withdrawals from exchanges such as Coinbase, Bitfinex, and Gate.io, has led to speculation regarding BLUR intentions. Market watchers are now questioning whether Wintermute will sell their BLUR investments at this point. While BLUR faces million dollar selling risk, whales are increasing their buying activity in 6 altcoins, according to data.
Whales collect these 6 altcoins
Ethereum (ETH)
According to data from Santiment, Ethereum is being quickly moved by whales to non-exchange wallets. The analytics firm tweeted yesterday, “Ethereum has remained volatile today as the bulls and bears battled around $1,900. Meanwhile, the largest non-exchange addresses continue to prosper, while the vacancy of the largest exchange addresses is noticeable. ETH supply on exchanges has dropped to 9.2%,” he wrote. Whales who have recently collected ETH are currently busy withdrawing their assets into their own wallets.
https://twitter.com/santimentfeed/status/1673343300076552196
Arbitrum (ARB)
Lookonchain also noted in a report that 2 whales that have been dormant for several months have recently transacted with Arbitrum (ARB). Shortly after these transactions, the price of the crypto began to rise. Reports indicate that the whale named “0x1b67” pulled 450,881 ARBs worth about $504k from Binance over the weekend.
Meanwhile, another whale named “0x3737” purchased 1.57 million ARBs on June 20, 2023 at an average of $1.07. In return, he spent 939 Ethereum (ETH) worth $1.68 million. Lookonchain questions transactions, “When a sleeping whale wakes up and buys a coin, it must know something in advance.”
When a dormant whale wakes up and buys a token, he must have known something in advance.$ARB is pumping today and 2 dormant whales bought $ARB in advance. pic.twitter.com/bWnGVIlcMz
— Lookonchain (@lookonchain) June 27, 2023
Dogecoin (DOGE)
In another operation, Whale Alert detected two different whale transfers, each carrying two billion DOGE. These were equivalent to $126.4 and $134 million, respectively. Meanwhile, Dogecoin’s trading volume is up 20%. The massive funds were moved over the weekend after Robinhood learned that it had increased its DOGE stash by approximately 11%.
https://twitter.com/whale_alert/status/1673394683823661075
LDO, PERP and MASK
Lastly, Lookonchain reported that the famous crypto company Jump Trading was only interested in 4 altcoins during the past week. These; Mask Network (MASK), Lido DAO (LDO), LeverFi (LEVER), and Perpetual Protocol (PERP). On-chain data shows the company has made over 1 million purchases each. As quoted by Kriptokoin.com, the company’s acquisitions took place just before the market rally.
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