Smart Money Pours These 3 Altcoins On Binance and Coinbase!

The cryptocurrency market is closely watching the moves of major investors. In the Bitcoin and altcoin markets, there are also investors who try to trade in line with the movements of these crypto money investors, who are known as whales. In this article, we will talk about the coins that big investors transfer to Binance and Coinbase. Here are the details…

Chiliz transfer to Binance and OKX

First of all, according to the shares of crypto journalist Colin Wu, Chiliz’s (CHZ) whale holding the largest amount out of the stock market transferred 20 million coins to the exchanges. According to Colin Wu, the whale first transferred 20 million CHZ to another anonymous wallet. He then sent it to Binance and OKX exchanges. The whale in question is still the largest CHZ whale, despite these heavy trades. They currently have almost 680 million CHZ in their wallet. That’s 7 percent of Chiliz’s circulating supply.

In line with the transaction of the CHZ whale, the token price dropped by 12 percent. As we have also reported as Kriptokoin.com, CHZ, which focuses especially on the field of fan tokens, experienced a rise with the start of the 2022 FIFA World Cup. But recently, data revealed that CHZ has dropped by as much as 30 percent since the World Cup began.

MATIC whales are also in action

On the other hand, the big owners of Polygon, one of the biggest cryptocurrencies, are also on the move. Data shows that a Polygon whale deposited $5 million on cryptocurrency exchange Coinbase. According to data from crypto transaction monitoring service Whale Alert, a significant amount of MATIC has moved on the Ethereum Blockchain in the past day. The transfer included the movement of approximately 5.5 million MATIC, which was worth approximately $5.1 million at the time of the transaction.

Usually, such large transfers belong either to a single whale or to an entity composed of multiple large investors. Movements from these owners can have noticeable effects on the market, depending on why they made the transfer. Here are some additional details about this Polygon whale process that may provide clues as to the purpose behind it:

As you can see above, the sending address in this Polygon transaction was an unknown wallet. Such wallets are usually personal, meaning they are not tied to any known central platform. Where these coins went was a wallet owned by the crypto exchange Coinbase. Such transfers from personal wallets to exchanges are called “stock market entries”. One of the main reasons traders deposit their MATICs on such platforms is for sales purposes.

Billions of SHIB transfers have occurred

Also, nearly one trillion Shiba Inu (SHIB) have recently been moved by anonymous whales in four transactions, according to data recently shared on Twitter. Four major transactions were detected in Etherscan. The subject was then shared on Twitter by the SHIB themed account @shibaplay_. A total of 918 billion was moved by the owners of several anonymous wallets. But more than half of that amount was transferred between their respective wallets by Binance, the largest crypto exchange by volume.

The transaction in question consists of 431,492,559,912 SHIBs worth $4,047,400. According to experts, this transfer was likely as part of a proof-of-reserve audit that Binance recently launched, urging all other centralized exchanges to do the same. Of that huge sum, a total of 66,774,747,922 Shiba Inu were sent to Binance for sale. Later, 312,900,000,000 and 107,796,000,795 SHIB were transferred between mystery wallets.